Pathstone Family Office LLC Acquires 2,490 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Pathstone Family Office LLC grew its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 42.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,416 shares of the real estate investment trust’s stock after buying an additional 2,490 shares during the quarter. Pathstone Family Office LLC’s holdings in AvalonBay Communities were worth $1,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its position in shares of AvalonBay Communities by 0.4% in the second quarter. BlackRock Inc. now owns 15,723,924 shares of the real estate investment trust’s stock valued at $2,976,067,000 after buying an additional 69,187 shares in the last quarter. State Street Corp increased its position in shares of AvalonBay Communities by 0.6% in the second quarter. State Street Corp now owns 10,147,624 shares of the real estate investment trust’s stock valued at $1,937,005,000 after buying an additional 60,027 shares in the last quarter. Norges Bank purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $1,001,550,000. JPMorgan Chase & Co. increased its position in shares of AvalonBay Communities by 8.0% during the second quarter. JPMorgan Chase & Co. now owns 5,250,683 shares of the real estate investment trust’s stock worth $993,797,000 after purchasing an additional 387,254 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of AvalonBay Communities by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,833,571 shares of the real estate investment trust’s stock worth $812,332,000 after purchasing an additional 106,604 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $174.63 on Monday. AvalonBay Communities, Inc. has a 52 week low of $153.07 and a 52 week high of $198.65. The business’s fifty day simple moving average is $181.20 and its 200-day simple moving average is $177.94. The firm has a market cap of $24.80 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.24 and a beta of 0.93. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing the consensus estimate of $2.73 by ($1.03). AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. During the same period last year, the company earned $2.59 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio is 100.76%.

Analyst Ratings Changes

Several analysts recently commented on AVB shares. Truist Financial cut AvalonBay Communities from a “buy” rating to a “hold” rating and boosted their price target for the stock from $202.00 to $203.00 in a research report on Tuesday, January 16th. TheStreet cut AvalonBay Communities from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th. Piper Sandler upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $197.00 to $194.00 in a research report on Tuesday, October 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $185.00 price target on shares of AvalonBay Communities in a research report on Friday, February 2nd. Finally, Evercore ISI boosted their price target on AvalonBay Communities from $183.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $196.06.

Check Out Our Latest Analysis on AVB

About AvalonBay Communities

(Free Report)

As of September 30, 2023, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 89,240 apartment homes in 12 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. 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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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