American Assets Capital Advisers LLC Purchases Shares of 4,500 AvalonBay Communities, Inc. (NYSE:AVB)

American Assets Capital Advisers LLC purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,500 shares of the real estate investment trust’s stock, valued at approximately $1,014,000.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares in the last quarter. Mather Group LLC. increased its stake in shares of AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities during the 1st quarter valued at $39,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.3 %

AVB stock traded down $0.61 during midday trading on Tuesday, reaching $231.60. 63,324 shares of the company traded hands, compared to its average volume of 726,475. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 3.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.03 and a current ratio of 2.03. The business has a 50 day moving average of $226.05 and a 200-day moving average of $211.63. AvalonBay Communities, Inc. has a 52-week low of $164.76 and a 52-week high of $236.26.

AvalonBay Communities (NYSE:AVB) last released its quarterly 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 firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the prior year, the firm posted $2.66 earnings per share. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

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 issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is presently 93.02%.

Analysts Set New Price Targets

AVB has been the subject of a number of analyst reports. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Wells Fargo & Company increased their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Scotiabank upped their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada reduced their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $227.06.

About AvalonBay Communities

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.