Dai ichi Life Insurance Company Ltd Sells 5,000 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Dai ichi Life Insurance Company Ltd lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 30.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,643 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in AvalonBay Communities were worth $2,623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Segment Wealth Management LLC grew its position in AvalonBay Communities by 4.6% during the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC grew its holdings in shares of AvalonBay Communities by 2.7% during the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in shares of AvalonBay Communities by 4.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 50 shares during the last quarter. Tectonic Advisors LLC raised its stake in AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in AvalonBay Communities by 4.6% during the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insiders Place Their Bets

In other news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares in the company, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVB. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Scotiabank dropped their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Piper Sandler increased their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $226.88.

AvalonBay Communities Trading Up 1.0 %

NYSE AVB opened at $237.74 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $239.29. The stock has a market cap of $33.82 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The stock has a 50 day simple moving average of $226.60 and a two-hundred day simple moving average of $214.71.

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). The company had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the firm earned $2.66 EPS. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is currently 93.02%.

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.