Stifel Financial Corp Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Stifel Financial Corp increased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,531 shares of the real estate investment trust's stock after purchasing an additional 7,195 shares during the period. Stifel Financial Corp owned 0.05% of AvalonBay Communities worth $17,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. &PARTNERS purchased a new position in shares of AvalonBay Communities during the second quarter valued at approximately $1,538,000. American Assets Capital Advisers LLC purchased a new position in AvalonBay Communities during the third quarter valued at $1,014,000. Diversified Trust Co bought a new stake in AvalonBay Communities in the second quarter worth $1,139,000. 1832 Asset Management L.P. grew its stake in shares of AvalonBay Communities by 5.6% in the second quarter. 1832 Asset Management L.P. now owns 63,174 shares of the real estate investment trust's stock worth $13,070,000 after acquiring an additional 3,350 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of AvalonBay Communities by 284.8% in the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust's stock worth $32,983,000 after acquiring an additional 108,371 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVB has been the subject of several analyst reports. Scotiabank reduced their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a research report on Thursday, November 14th. BNP Paribas initiated coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an "outperform" rating and a $250.00 price target on the stock. Truist Financial increased their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research report on Tuesday, August 27th. Zelman & Associates raised AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $228.67.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

AvalonBay Communities Price Performance

AVB traded down $1.94 during trading hours on Tuesday, hitting $225.05. The company's stock had a trading volume of 614,238 shares, compared to its average volume of 713,743. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The business's 50-day moving average price is $226.79 and its 200-day moving average price is $216.66. The stock has a market cap of $32.01 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 3.31 and a beta of 0.98.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to analysts' expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the company earned $2.66 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is currently 93.02%.

AvalonBay Communities Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.