Penserra Capital Management LLC Reduces Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Penserra Capital Management LLC trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,792 shares of the real estate investment trust’s stock after selling 73 shares during the period. Penserra Capital Management LLC’s holdings in AvalonBay Communities were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC boosted its stake in AvalonBay Communities by 52.3% in the 1st quarter. Lazard Asset Management LLC now owns 8,116 shares of the real estate investment trust’s stock worth $1,505,000 after purchasing an additional 2,786 shares during the period. Plato Investment Management Ltd grew its stake in AvalonBay Communities by 863.7% during the first quarter. Plato Investment Management Ltd now owns 3,315 shares of the real estate investment trust’s stock valued at $615,000 after acquiring an additional 2,971 shares in the last quarter. Virtu Financial LLC increased its holdings in AvalonBay Communities by 78.6% during the 1st quarter. Virtu Financial LLC now owns 3,845 shares of the real estate investment trust’s stock worth $713,000 after acquiring an additional 1,692 shares during the period. Swedbank AB purchased a new stake in AvalonBay Communities in the 1st quarter worth approximately $4,532,000. Finally, Atria Investments Inc boosted its holdings in AvalonBay Communities by 5.1% in the 1st quarter. Atria Investments Inc now owns 10,044 shares of the real estate investment trust’s stock valued at $1,864,000 after purchasing an additional 490 shares during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 1.0 %

Shares of NYSE AVB opened at $237.74 on Thursday. The firm’s fifty day moving average is $226.60 and its 200 day moving average is $214.71. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $239.29. 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 company has a market cap of $33.82 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.40 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

Insider Transactions at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares of the company’s stock, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AVB shares. BNP Paribas started coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada cut their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Piper Sandler lifted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $226.88.

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.