Erste Asset Management GmbH Acquires Shares of 7,800 AvalonBay Communities, Inc. (NYSE:AVB)

Erste Asset Management GmbH bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,800 shares of the real estate investment trust’s stock, valued at approximately $1,757,000.

Several other hedge funds have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities during the 3rd quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the 2nd quarter valued at $32,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities in the 3rd quarter valued at $39,000. Mather Group LLC. boosted its stake in AvalonBay Communities by 38.6% during the 3rd 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 during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of AvalonBay Communities during the third quarter worth $51,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Stock Down 1.0 %

Shares of NYSE AVB opened at $228.45 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $226.76 and its two-hundred day moving average is $215.81. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29. The firm has a market cap of $32.49 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.37 and a beta of 0.98.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the previous year, the company posted $2.66 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued 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 2.98%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Analysts Set New Price Targets

AVB has been the subject of several research reports. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Scotiabank dropped their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Truist Financial lifted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Evercore ISI upped their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada reduced their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $228.67.

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.