DNB Asset Management AS Raises Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

DNB Asset Management AS increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,762 shares of the real estate investment trust’s stock after acquiring an additional 2,289 shares during the quarter. DNB Asset Management AS’s holdings in AvalonBay Communities were worth $5,330,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AVB. Byrne Asset Management LLC increased its stake 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 purchasing an additional 135 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in AvalonBay Communities in the first quarter valued at approximately $39,000. Pinnacle Bancorp Inc. grew its stake in shares of AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 75 shares in the last quarter. Arlington Trust Co LLC purchased a new position in AvalonBay Communities in the fourth quarter valued at $45,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AVB has been the subject of several analyst reports. Piper Sandler increased their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Barclays raised their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Truist Financial increased their price target on shares of AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Finally, Morgan Stanley increased their target price on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $210.29.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $209.16 on Wednesday. The business’s 50-day moving average price is $202.87 and its two-hundred day moving average price is $190.77. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $218.79. The company has a market capitalization of $29.74 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. During the same period in the prior year, the firm earned $2.66 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.25%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

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.