AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Stifel Financial Corp

Stifel Financial Corp grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 76,531 shares of the real estate investment trust’s stock after buying an additional 7,195 shares during the period. Stifel Financial Corp’s holdings in AvalonBay Communities were worth $17,239,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of AvalonBay Communities by 487.8% during the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock worth $74,372,000 after buying an additional 298,322 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of AvalonBay Communities during the third quarter valued at $581,960,000. SG Americas Securities LLC increased its position in shares of AvalonBay Communities by 958.9% in the 3rd quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust’s stock valued at $38,882,000 after acquiring an additional 156,316 shares during the period. Finally, Artemis Investment Management LLP purchased a new position in AvalonBay Communities in the 3rd quarter worth $29,256,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction on 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 directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AVB has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Truist Financial increased their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. BNP Paribas initiated coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. Royal Bank of Canada cut 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 note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $228.67.

AvalonBay Communities Stock Up 0.2 %

Shares of AVB opened at $226.96 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market cap of $32.28 billion, a P/E ratio of 31.05, a PEG ratio of 3.31 and a beta of 0.98. The stock’s 50 day moving average is $226.79 and its two-hundred day moving average is $216.66. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its quarterly 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 business posted $2.66 EPS. Analysts predict that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

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

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.