Metis Global Partners LLC Has $6.05 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Metis Global Partners LLC boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,860 shares of the real estate investment trust’s stock after buying an additional 4,286 shares during the period. Metis Global Partners LLC’s holdings in AvalonBay Communities were worth $6,050,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AVB. Empowered Funds LLC raised its position in AvalonBay Communities by 24.2% in the 1st quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $340,000 after buying an additional 357 shares during the last quarter. Entropy Technologies LP increased its holdings in AvalonBay Communities by 2.5% in the 1st quarter. Entropy Technologies LP now owns 3,811 shares of the real estate investment trust’s stock worth $707,000 after acquiring an additional 93 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in AvalonBay Communities by 14.4% in the 1st 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 acquiring an additional 4,138 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in AvalonBay Communities by 9.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 177,298 shares of the real estate investment trust’s stock valued at $32,899,000 after purchasing an additional 15,236 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in AvalonBay Communities by 15.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,663 shares of the real estate investment trust’s stock worth $47,441,000 after purchasing an additional 34,660 shares during the period. 92.61% of the stock is owned by institutional investors.

Insider Buying and Selling at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the transaction, the director now directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the transaction, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVB. Evercore ISI increased their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. UBS Group boosted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Trading Down 0.0 %

AvalonBay Communities stock opened at $233.00 on Thursday. The business has a 50-day simple moving average of $226.23 and a two-hundred day simple moving average of $212.05. AvalonBay Communities, Inc. has a 52-week low of $166.60 and a 52-week high of $236.26. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.70. The company has a market cap of $33.14 billion, a P/E ratio of 31.89, a P/E/G ratio of 3.36 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last announced its earnings results 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). The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the prior year, the company posted $2.66 earnings per share. Analysts predict that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

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.