AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 2,240,436 shares of the real estate investment trust’s stock after acquiring an additional 78,800 shares during the period. Charles Schwab Investment Management Inc.’s holdings in AvalonBay Communities were worth $504,658,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities during the 2nd quarter valued at $32,000. Versant Capital Management Inc grew its holdings in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 169 shares in the last quarter. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities in the 1st quarter valued at about $39,000. Mather Group LLC. lifted its position in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the third quarter worth about $51,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AVB opened at $231.18 on Friday. 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 twelve month low of $169.37 and a twelve month high of $236.26. The firm’s 50 day moving average price is $226.41 and its 200 day moving average price is $213.51. The firm has a market cap of $32.88 billion, a PE ratio of 31.62, a PEG ratio of 3.35 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVB. Scotiabank reduced their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada dropped their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $226.88.

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 shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

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.