Janus Henderson Group PLC Has $96.78 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Janus Henderson Group PLC raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 6.1% in the first quarter, HoldingsChannel reports. The fund owned 521,815 shares of the real estate investment trust’s stock after purchasing an additional 29,953 shares during the quarter. Janus Henderson Group PLC’s holdings in AvalonBay Communities were worth $96,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lasalle Investment Management Securities LLC lifted its stake in shares of AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after buying an additional 18,320 shares in the last quarter. Delta Investment Management LLC purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth approximately $873,000. GSI Capital Advisors LLC raised its stake in shares of AvalonBay Communities by 21.3% in the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after purchasing an additional 8,925 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of AvalonBay Communities by 14.4% in the fourth quarter. Van ECK Associates Corp now owns 58,931 shares of the real estate investment trust’s stock valued at $11,033,000 after purchasing an additional 7,397 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in AvalonBay Communities by 2.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 994,505 shares of the real estate investment trust’s stock valued at $186,191,000 after acquiring an additional 21,760 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho upped their target price on AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Morgan Stanley lifted their target price on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Truist Financial lifted 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. Finally, Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $207.76.

AvalonBay Communities Price Performance

Shares of NYSE AVB traded up $0.85 during midday trading on Wednesday, hitting $206.99. 187,534 shares of the company’s stock were exchanged, compared to its average volume of 716,381. The business’s fifty day moving average price is $201.54 and its two-hundred day moving average price is $189.77. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.04 and a beta of 0.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $211.20.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

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.