Capital Square LLC Buys 650 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Capital Square LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 26.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,067 shares of the real estate investment trust’s stock after acquiring an additional 650 shares during the period. Capital Square LLC’s holdings in AvalonBay Communities were worth $691,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AVB. Daiwa Securities Group Inc. raised its position in shares of 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 buying an additional 298,322 shares in the last quarter. International Assets Investment Management LLC bought a new position in AvalonBay Communities in the third quarter valued at approximately $581,960,000. SG Americas Securities LLC raised its position in AvalonBay Communities by 958.9% during the third 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 in the last quarter. Artemis Investment Management LLP bought a new stake in AvalonBay Communities during the third quarter worth $29,256,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of AvalonBay Communities during the 2nd quarter worth $26,755,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Trading Up 1.7 %

AvalonBay Communities stock traded up $3.87 during trading hours on Monday, reaching $235.81. 47,442 shares of the company’s stock were exchanged, compared to its average volume of 717,349. The firm’s 50 day simple moving average is $226.36 and its 200 day simple moving average is $214.02. AvalonBay Communities, Inc. has a twelve month low of $169.37 and a twelve month high of $236.26. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $33.54 billion, a PE ratio of 31.73, a PEG ratio of 3.39 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the business earned $2.66 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.88%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BNP Paribas initiated coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Scotiabank lowered their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Truist Financial raised their target price 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Piper Sandler raised their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $226.88.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.

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.