AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by True North Advisors LLC

True North Advisors LLC reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,405 shares of the real estate investment trust’s stock after selling 107 shares during the period. True North Advisors LLC’s holdings in AvalonBay Communities were worth $263,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in AvalonBay Communities in the 4th quarter worth approximately $1,001,550,000. D1 Capital Partners L.P. purchased a new position in shares of AvalonBay Communities during the second quarter worth $152,996,000. Wellington Management Group LLP lifted its position in AvalonBay Communities by 57.1% during the first quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock valued at $531,516,000 after purchasing an additional 777,631 shares during the period. JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 4,863,429 shares of the real estate investment trust’s stock valued at $817,348,000 after purchasing an additional 759,388 shares during the last quarter. Finally, Long Pond Capital LP grew its position in AvalonBay Communities by 255.8% during the 4th quarter. Long Pond Capital LP now owns 767,824 shares of the real estate investment trust’s stock worth $124,019,000 after purchasing an additional 552,042 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

NYSE:AVB opened at $185.56 on Monday. The stock has a 50 day moving average of $179.24 and a two-hundred day moving average of $177.43. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65. The firm has a market cap of $26.35 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 3.45 and a beta of 0.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued 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 return on equity of 7.98% and a net margin of 33.56%. The firm had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. During the same quarter in the previous year, the firm posted $2.59 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 10.82 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research cut AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Piper Sandler restated an “overweight” rating and issued a $207.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $185.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. KeyCorp reiterated a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $197.03.

View Our Latest Analysis on AvalonBay Communities

Insider Buying and Selling at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

AvalonBay Communities Company Profile

(Free Report)

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.

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

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