AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,468 shares of the real estate investment trust’s stock after selling 1,079 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in AvalonBay Communities were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. West Coast Financial LLC increased its stake in AvalonBay Communities by 3.9% in the 1st quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 65 shares during the period. Pinnacle Bancorp Inc. increased its stake in AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares during the period. Czech National Bank increased its stake in AvalonBay Communities by 0.3% in the 1st quarter. Czech National Bank now owns 24,959 shares of the real estate investment trust’s stock valued at $4,631,000 after buying an additional 86 shares during the period. Wealth Alliance increased its stake in AvalonBay Communities by 5.8% in the 4th quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 88 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in shares of AvalonBay Communities by 4.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,252 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the topic of several research analyst reports. Evercore ISI boosted their target price on shares of AvalonBay Communities from $205.00 to $207.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Truist Financial boosted their price objective on shares of AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Morgan Stanley boosted their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Scotiabank boosted their price objective on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company boosted their target price on shares of AvalonBay Communities from $210.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $207.76.

AvalonBay Communities Trading Up 0.9 %

Shares of NYSE AVB traded up $1.90 on Monday, reaching $209.27. 436,366 shares of the company traded hands, compared to its average volume of 730,161. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $211.20. The company has a 50 day moving average of $200.31 and a 200 day moving average of $188.61. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $29.76 billion, a PE ratio of 30.86, a P/E/G ratio of 3.02 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The business had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period last year, the company posted $2.57 EPS. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

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.