Quantinno Capital Management LP Has $4.24 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Quantinno Capital Management LP grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 12.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,807 shares of the real estate investment trust’s stock after buying an additional 2,035 shares during the period. Quantinno Capital Management LP’s holdings in AvalonBay Communities were worth $4,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of AvalonBay Communities by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after purchasing an additional 78,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AvalonBay Communities by 678.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after purchasing an additional 1,494,872 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of AvalonBay Communities by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after purchasing an additional 126,055 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of AvalonBay Communities by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock worth $95,570,000 after purchasing an additional 26,859 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AVB shares. JPMorgan Chase & Co. raised their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. BNP Paribas initiated coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price on the stock. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company lifted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, Scotiabank reduced their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Eleven 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 has a consensus rating of “Hold” and an average price target of $228.67.

AvalonBay Communities Price Performance

NYSE:AVB opened at $226.55 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock’s 50-day simple moving average is $226.75 and its 200 day simple moving average is $216.43. The company has a market cap of $32.22 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.33 and a beta of 0.98. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its earnings results 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). The company had revenue of $734.31 million during the quarter, compared to analyst estimates 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 firm posted $2.66 EPS. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the transaction, the director now owns 111,436 shares of the company’s stock, valued at $26,051,508.08. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

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.