1,096 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,096 shares of the real estate investment trust’s stock, valued at approximately $196,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in AvalonBay Communities by 182.8% during the fourth quarter. Jennison Associates LLC now owns 143,037 shares of the real estate investment trust’s stock worth $26,779,000 after purchasing an additional 92,463 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in AvalonBay Communities by 4.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,301 shares of the real estate investment trust’s stock valued at $431,000 after buying an additional 100 shares during the last quarter. Cetera Trust Company N.A purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $249,000. Handelsbanken Fonder AB lifted its stake in AvalonBay Communities by 2.9% in the fourth quarter. Handelsbanken Fonder AB now owns 67,229 shares of the real estate investment trust’s stock valued at $12,587,000 after buying an additional 1,881 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in AvalonBay Communities by 3.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,515 shares of the real estate investment trust’s stock valued at $6,836,000 after buying an additional 1,175 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction dated 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 directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at $5,812,330.20. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on AvalonBay Communities in a report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $185.00 target price on shares of AvalonBay Communities in a report on Friday, February 2nd. Truist Financial dropped their target price on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $207.00 target price on shares of AvalonBay Communities in a report on Tuesday, March 26th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $196.78.

AvalonBay Communities Stock Down 0.0 %

AvalonBay Communities stock opened at $191.30 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $198.65. The stock’s fifty day moving average is $182.37 and its two-hundred day moving average is $178.52. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 3.56 and a beta of 0.92.

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). AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. The company had revenue of $704.71 million during the quarter, compared to analysts’ expectations of $701.67 million. During the same quarter in the prior year, the company earned $2.59 earnings per share. 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 given a $1.70 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

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.