UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in AvalonBay Communities, Inc. (NYSE:AVB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 678.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,715,050 shares of the real estate investment trust's stock after acquiring an additional 1,494,872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.21% of AvalonBay Communities worth $386,315,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of AvalonBay Communities by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust's stock worth $504,658,000 after purchasing an additional 78,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AvalonBay Communities by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust's stock worth $429,145,000 after buying an additional 13,631 shares in the last quarter. Bank of New York Mellon Corp grew its position in AvalonBay Communities by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust's stock valued at $244,776,000 after acquiring an additional 126,055 shares during the last quarter. American Century Companies Inc. raised its stake in shares of AvalonBay Communities by 6.2% during the second quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust's stock worth $95,570,000 after acquiring an additional 26,859 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of AvalonBay Communities by 0.4% during the third quarter. Swiss National Bank now owns 422,021 shares of the real estate investment trust's stock worth $95,060,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction on Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company's stock.

AvalonBay Communities Stock Down 1.1 %

Shares of NYSE:AVB traded down $2.60 during trading on Friday, hitting $235.21. The stock had a trading volume of 616,784 shares, compared to its average volume of 720,194. The company has a market capitalization of $33.46 billion, a PE ratio of 32.18, a PEG ratio of 3.47 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm's fifty day moving average is $226.85 and its 200 day moving average is $215.13. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted 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). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter last year, the company posted $2.66 EPS. Analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.89%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's payout ratio is currently 93.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas started coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price objective for the company. Royal Bank of Canada reduced their price objective on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $226.88.

About AvalonBay Communities

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.