9,156 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Purchased by Carrera Capital Advisors

Carrera Capital Advisors acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the third quarter, HoldingsChannel.com reports. The firm acquired 9,156 shares of the real estate investment trust’s stock, valued at approximately $2,078,000.

Several other institutional investors have also modified their holdings of AVB. Empowered Funds LLC boosted its stake in AvalonBay Communities by 24.2% during the first quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock worth $340,000 after buying an additional 357 shares during the period. Headlands Technologies LLC raised its position in AvalonBay Communities by 774.0% in the 1st quarter. Headlands Technologies LLC now owns 874 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 774 shares during the period. Sheets Smith Wealth Management purchased a new stake in AvalonBay Communities in the 1st quarter worth about $768,000. Entropy Technologies LP lifted its stake in AvalonBay Communities by 2.5% in the first quarter. Entropy Technologies LP now owns 3,811 shares of the real estate investment trust’s stock worth $707,000 after purchasing an additional 93 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of AvalonBay Communities by 14.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock valued at $6,115,000 after buying an additional 4,138 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AVB. Deutsche Bank Aktiengesellschaft upped their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Scotiabank raised their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Evercore ISI boosted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Stock Performance

Shares of AVB traded down $0.59 during mid-day trading on Tuesday, reaching $231.62. The company had a trading volume of 72,491 shares, compared to its average volume of 726,517. The stock has a market capitalization of $32.94 billion, a P/E ratio of 31.77, a PEG ratio of 3.55 and a beta of 0.97. AvalonBay Communities, Inc. has a 52-week low of $164.76 and a 52-week high of $236.26. The stock has a 50 day moving average of $226.05 and a two-hundred day moving average of $211.63. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 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 for the quarter, compared to analyst estimates of $731.67 million. During the same period in the previous year, the business earned $2.66 EPS. On average, analysts expect that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s payout ratio is currently 93.02%.

AvalonBay Communities Company 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.