Perpetual Ltd Has $2.09 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Perpetual Ltd reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 34.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,270 shares of the real estate investment trust’s stock after selling 4,840 shares during the period. Perpetual Ltd’s holdings in AvalonBay Communities were worth $2,088,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pensionfund DSM Netherlands boosted its position in AvalonBay Communities by 3.0% during the third quarter. Pensionfund DSM Netherlands now owns 27,620 shares of the real estate investment trust’s stock worth $6,221,000 after purchasing an additional 800 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of AvalonBay Communities during the 3rd quarter worth about $14,465,000. Wedmont Private Capital acquired a new stake in shares of AvalonBay Communities during the 3rd quarter worth about $227,000. CWM LLC boosted its holdings in shares of AvalonBay Communities by 4.8% during the 3rd quarter. CWM LLC now owns 1,639 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 75 shares during the period. Finally, Gratus Wealth Advisors LLC grew its stake in AvalonBay Communities by 25.7% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 266 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AVB shares. Wells Fargo & Company boosted their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada increased their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Finally, Evercore ISI lifted their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eleven equities 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, the stock currently has a consensus rating of “Hold” and an average target price of $225.88.

AvalonBay Communities Stock Down 0.7 %

AVB stock opened at $216.94 on Friday. The firm has a 50-day moving average price of $221.56 and a 200-day moving average price of $204.80. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month 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 stock has a market capitalization of $30.85 billion, a P/E ratio of 32.28, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the previous year, the company earned $2.66 EPS. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.13%. AvalonBay Communities’s payout ratio is presently 101.19%.

Insider Buying and Selling at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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.