AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,141 shares of the real estate investment trust’s stock after selling 324 shares during the period. Lincluden Management Ltd.’s holdings in AvalonBay Communities were worth $2,960,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in AvalonBay Communities by 0.4% during the 3rd quarter. US Bancorp DE now owns 19,431 shares of the real estate investment trust’s stock worth $4,377,000 after buying an additional 77 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of AvalonBay Communities by 34.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,691 shares of the real estate investment trust’s stock valued at $1,282,000 after purchasing an additional 1,454 shares in the last quarter. Golden State Equity Partners acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at $343,000. Highline Wealth Partners LLC acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at $297,000. Finally, abrdn plc raised its holdings in shares of AvalonBay Communities by 15.7% in the 3rd quarter. abrdn plc now owns 327,967 shares of the real estate investment trust’s stock valued at $73,650,000 after purchasing an additional 44,564 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB opened at $221.61 on Friday. The stock has a market cap of $31.52 billion, a P/E ratio of 37.50, a PEG ratio of 3.47 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $161.85 and a 12-month high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $225.66 and a two-hundred day moving average of $209.28.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter last year, the firm earned $2.66 earnings per share. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.07%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 115.06%.

Insider Activity at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVB. Deutsche Bank Aktiengesellschaft increased their target price 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. BNP Paribas began coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company increased their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $225.88.

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.