AvalonBay Communities, Inc. (NYSE:AVB) Stock Holdings Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,154 shares of the real estate investment trust’s stock after acquiring an additional 1,152 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AvalonBay Communities were worth $11,523,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in AvalonBay Communities by 36.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,139 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 307 shares during the period. Lebenthal Global Advisors LLC grew its holdings in shares of AvalonBay Communities by 18.0% during the third quarter. Lebenthal Global Advisors LLC now owns 1,879 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 286 shares in the last quarter. US Bancorp DE raised its position in AvalonBay Communities by 0.4% during the third quarter. US Bancorp DE now owns 19,431 shares of the real estate investment trust’s stock valued at $4,377,000 after buying an additional 77 shares during the period. First Trust Direct Indexing L.P. lifted its stake in AvalonBay Communities by 34.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,691 shares of the real estate investment trust’s stock worth $1,282,000 after acquiring an additional 1,454 shares in the last quarter. Finally, Golden State Equity Partners purchased a new stake in AvalonBay Communities in the 3rd quarter worth about $343,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the topic of a number of research reports. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Piper Sandler upped their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank lifted their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $227.06.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $224.93 on Thursday. The firm has a market capitalization of $31.99 billion, a PE ratio of 30.77, a PEG ratio of 3.29 and a beta of 0.97. AvalonBay Communities, Inc. has a 1 year low of $164.76 and a 1 year high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm’s fifty day simple moving average is $225.66 and its 200 day simple moving average is $210.60.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the business posted $2.66 earnings per share. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

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.