1832 Asset Management L.P. Has $11.10 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

1832 Asset Management L.P. lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,824 shares of the real estate investment trust’s stock after buying an additional 4,000 shares during the period. 1832 Asset Management L.P.’s holdings in AvalonBay Communities were worth $11,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVB. Byrne Asset Management LLC raised its holdings in shares of AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 135 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. Arlington Trust Co LLC bought a new position in AvalonBay Communities during the fourth quarter valued at about $45,000. Sunbelt Securities Inc. bought a new position in AvalonBay Communities during the first quarter valued at about $68,000. Finally, Bear Mountain Capital Inc. bought a new position in AvalonBay Communities during the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the topic of several recent research reports. Morgan Stanley raised their target price on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Truist Financial lifted their price objective on AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. Evercore ISI lifted their price objective on AvalonBay Communities from $205.00 to $207.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Finally, Piper Sandler lifted their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Twelve research 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, the stock has a consensus rating of “Hold” and a consensus target price of $207.76.

AvalonBay Communities Price Performance

Shares of NYSE:AVB traded up $3.65 during trading on Friday, reaching $206.48. The stock had a trading volume of 375,637 shares, compared to its average volume of 559,912. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $211.20. The business’s 50-day moving average price is $201.17 and its 200 day moving average price is $189.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $29.36 billion, a PE ratio of 30.73, a P/E/G ratio of 3.01 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The company had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. During the same quarter last year, the firm earned $2.57 EPS. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

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.