American Assets Capital Advisers LLC Acquires Shares of 4,500 AvalonBay Communities, Inc. (NYSE:AVB)

American Assets Capital Advisers LLC acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,500 shares of the real estate investment trust’s stock, valued at approximately $1,014,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Daiwa Securities Group Inc. grew its stake in AvalonBay Communities by 487.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after purchasing an additional 298,322 shares during the period. International Assets Investment Management LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $581,960,000. Canada Pension Plan Investment Board increased its position 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 buying an additional 249,400 shares during the period. SG Americas Securities LLC boosted its holdings in 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 purchasing an additional 156,316 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in shares of AvalonBay Communities in the third quarter worth $29,256,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded down $0.61 during midday trading on Tuesday, reaching $231.60. 63,324 shares of the company traded hands, compared to its average volume of 726,475. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a 12 month low of $164.76 and a 12 month high of $236.26. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. The business has a 50 day moving average of $226.05 and a two-hundred day moving average of $211.63.

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 for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same period in the previous year, the company earned $2.66 earnings per share. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s payout ratio is currently 93.02%.

Analyst Ratings Changes

A number of research analysts recently commented on AVB shares. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company upped their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Scotiabank lifted their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Finally, UBS Group boosted their target price 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. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $227.06.

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.