Lincluden Management Ltd. Sells 324 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Lincluden Management Ltd. lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,141 shares of the real estate investment trust’s stock after selling 324 shares during the period. Lincluden Management Ltd.’s holdings in AvalonBay Communities were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in AvalonBay Communities by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of AvalonBay Communities by 14.4% during the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after acquiring an additional 249,400 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of AvalonBay Communities by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock valued at $342,824,000 after acquiring an additional 8,809 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of AvalonBay Communities by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock valued at $244,776,000 after acquiring an additional 126,055 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of AvalonBay Communities by 11.9% during the first quarter. Russell Investments Group Ltd. now owns 784,723 shares of the real estate investment trust’s stock valued at $145,576,000 after acquiring an additional 83,400 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AVB opened at $221.61 on Friday. The firm has a market capitalization of $31.52 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.47 and a beta of 0.97. The company’s fifty day moving average price is $225.66 and its 200-day moving average price is $209.28. AvalonBay Communities, Inc. has a 1-year low of $161.85 and a 1-year high of $236.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter last year, the company posted $2.66 EPS. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.07%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 115.06%.

Insiders Place Their Bets

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AVB shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. UBS Group lifted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Piper Sandler lifted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BNP Paribas assumed coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Finally, Scotiabank lifted their price objective on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.88.

AvalonBay Communities Company 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.