Kestra Investment Management LLC Purchases Shares of 2,196 AvalonBay Communities, Inc. (NYSE:AVB)

Kestra Investment Management LLC acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,196 shares of the real estate investment trust’s stock, valued at approximately $495,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 valued at $386,315,000 after acquiring an additional 1,494,872 shares during the period. Daiwa Securities Group Inc. lifted its stake in AvalonBay Communities by 487.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after purchasing an additional 298,322 shares during the last quarter. International Assets Investment Management LLC bought a new position in AvalonBay Communities during the third quarter worth about $581,960,000. SG Americas Securities LLC increased its position in AvalonBay Communities by 958.9% during the third quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust’s stock worth $38,882,000 after buying an additional 156,316 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in AvalonBay Communities during the third quarter worth approximately $29,256,000. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AVB shares. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Scotiabank decreased their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $228.67.

AvalonBay Communities Trading Down 1.0 %

Shares of NYSE:AVB opened at $235.35 on Monday. The company has a market capitalization of $33.48 billion, a P/E ratio of 32.20, a P/E/G ratio of 3.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The business’s 50 day simple moving average is $226.85 and its 200 day simple moving average is $215.37. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB) last issued 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 company had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the previous year, the business posted $2.66 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.89%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated 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 transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.42% of the company’s stock.

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.