National Pension Service Boosts Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

National Pension Service raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,409 shares of the real estate investment trust’s stock after purchasing an additional 18,888 shares during the period. National Pension Service’s holdings in AvalonBay Communities were worth $47,845,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AVB. Norden Group LLC purchased a new position in AvalonBay Communities during the first quarter worth $609,000. Sequoia Financial Advisors LLC raised its stake in AvalonBay Communities by 12.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,019 shares of the real estate investment trust’s stock valued at $375,000 after purchasing an additional 217 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in AvalonBay Communities by 9.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 48,152 shares of the real estate investment trust’s stock valued at $8,935,000 after purchasing an additional 4,157 shares in the last quarter. Larson Financial Group LLC lifted its holdings in AvalonBay Communities by 124.7% in the 1st quarter. Larson Financial Group LLC now owns 1,045 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 580 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of AvalonBay Communities by 24.2% during the 1st quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 357 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the subject of a number of recent analyst reports. 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 report on Monday, September 16th. Scotiabank lifted their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Piper Sandler upped their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eleven equities research 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 price target of $225.88.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $226.38 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a fifty-two week low of $164.76 and a fifty-two week high of $236.26. The business has a 50 day moving average price of $225.62 and a two-hundred day moving average price of $210.50. The firm has a market cap of $32.20 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is currently 115.06%.

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.