AvalonBay Communities, Inc. (NYSE:AVB) Position Increased by Janus Henderson Group PLC

Janus Henderson Group PLC increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 521,815 shares of the real estate investment trust’s stock after buying an additional 29,953 shares during the quarter. Janus Henderson Group PLC owned about 0.37% of AvalonBay Communities worth $96,781,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC increased its position in AvalonBay Communities by 270.0% in the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 135 shares during the period. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities during the 1st quarter valued at $39,000. Pinnacle Bancorp Inc. boosted its position in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 75 shares during the period. Arlington Trust Co LLC acquired a new stake in AvalonBay Communities during the 4th quarter worth about $45,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $68,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB traded up $0.85 on Wednesday, reaching $206.99. 187,534 shares of the stock traded hands, compared to its average volume of 716,381. The stock’s 50-day moving average price is $201.54 and its 200-day moving average price is $189.77. 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 firm has a market cap of $29.43 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 3.04 and a beta of 0.96. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $211.20.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued 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%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Royal Bank of Canada raised their price target on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. UBS Group boosted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley raised their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Finally, Evercore ISI lifted their target price on shares of AvalonBay Communities from $205.00 to $207.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $207.76.

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.