AvalonBay Communities, Inc. (NYSE:AVB) Stock Holdings Lowered by abrdn plc

abrdn plc cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 314,560 shares of the real estate investment trust’s stock after selling 2,568 shares during the quarter. abrdn plc owned approximately 0.22% of AvalonBay Communities worth $58,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. acquired a new position in shares of AvalonBay Communities in the third quarter valued at $26,000. Quarry LP grew its position in AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 138 shares during the period. Ronald Blue Trust Inc. boosted its stake in shares of AvalonBay Communities by 316.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 171 shares in the last quarter. Castleview Partners LLC grew its holdings in shares of AvalonBay Communities by 1,542.9% in the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 216 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new position in AvalonBay Communities during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $207.00 price objective on shares of AvalonBay Communities in a report on Tuesday, March 26th. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $191.50 in a report on Monday, February 26th. Barclays raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $194.00 to $204.00 in a report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft initiated 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research report on Friday, February 2nd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.78.

AvalonBay Communities Price Performance

Shares of AVB opened at $184.13 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $26.18 billion, a PE ratio of 28.11, a P/E/G ratio of 3.43 and a beta of 0.92. The stock has a 50 day simple moving average of $181.15 and a 200 day simple moving average of $178.10. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $198.65.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The company had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same period in the prior year, the company earned $2.59 EPS. Sell-side analysts predict that AvalonBay Communities, Inc. will post 10.8 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $1.70 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 annualized dividend and a dividend yield of 3.69%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.82%.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the firm’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 value of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction 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 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 company insiders.

AvalonBay Communities Company 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.