AvalonBay Communities, Inc. (NYSE:AVB) Stock Holdings Increased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 128.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,066 shares of the real estate investment trust’s stock after acquiring an additional 599 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AvalonBay Communities were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in AvalonBay Communities in the 4th quarter valued at $1,001,550,000. Wellington Management Group LLP boosted its stake in AvalonBay Communities by 57.1% during the 1st 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. grew its holdings in AvalonBay Communities by 18.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,863,429 shares of the real estate investment trust’s stock valued at $817,348,000 after buying an additional 759,388 shares during the last quarter. Long Pond Capital LP boosted its position in shares of AvalonBay Communities by 255.8% in the fourth quarter. Long Pond Capital LP now owns 767,824 shares of the real estate investment trust’s stock valued at $124,019,000 after acquiring an additional 552,042 shares during the period. Finally, State Street Corp increased its position in AvalonBay Communities by 5.6% during the first quarter. State Street Corp now owns 10,087,597 shares of the real estate investment trust’s stock worth $1,711,547,000 after acquiring an additional 531,677 shares during the period. Institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price target on the stock. KeyCorp reiterated a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Piper Sandler restated an “overweight” rating and set a $207.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Truist Financial cut their target price on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th. Finally, Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $191.50 in a research note on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $196.78.

Insider Activity

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

AvalonBay Communities Stock Up 0.6 %

Shares of NYSE AVB opened at $182.05 on Friday. The firm has a 50 day moving average price of $180.96 and a 200 day moving average price of $177.85. 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 stock has a market cap of $25.88 billion, a P/E ratio of 27.79, a P/E/G ratio of 3.37 and a beta of 0.92. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $198.65.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The business had revenue of $704.71 million for the quarter, compared to analyst estimates of $701.67 million. During the same period in the prior year, the business earned $2.59 EPS. Analysts expect that AvalonBay Communities, Inc. will post 10.8 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $1.70 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.74%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s payout ratio is presently 103.82%.

About AvalonBay Communities

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.