Portfolio Design Labs LLC Invests $3.97 Million in AvalonBay Communities, Inc. (NYSE:AVB)

Portfolio Design Labs LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,609 shares of the real estate investment trust’s stock, valued at approximately $3,966,000. AvalonBay Communities comprises about 1.1% of Portfolio Design Labs LLC’s holdings, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVB. &PARTNERS acquired a new stake in AvalonBay Communities in the 2nd quarter valued at about $1,538,000. Swedbank AB bought a new stake in shares of AvalonBay Communities during the 1st quarter valued at $4,532,000. American Assets Capital Advisers LLC bought a new position in shares of AvalonBay Communities in the third quarter worth $1,014,000. Diversified Trust Co acquired a new position in AvalonBay Communities in the second quarter valued at about $1,139,000. Finally, DekaBank Deutsche Girozentrale lifted its position in AvalonBay Communities by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock worth $18,338,000 after purchasing an additional 9,125 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction dated 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 sale, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

AvalonBay Communities Stock Up 0.1 %

Shares of NYSE:AVB opened at $229.40 on Wednesday. The firm has a market cap of $32.63 billion, a P/E ratio of 31.38, a P/E/G ratio of 3.35 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $166.60 and a 12-month high of $236.26. The business has a fifty day simple moving average of $226.46 and a 200 day simple moving average of $213.28. The company has a quick ratio of 1.64, a current ratio of 1.64 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 earnings per share (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 company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same quarter last year, the business earned $2.66 earnings per share. Analysts predict that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. BNP Paribas assumed coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $226.88.

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.