UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $386.32 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 678.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,715,050 shares of the real estate investment trust’s stock after buying an additional 1,494,872 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.21% of AvalonBay Communities worth $386,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. &PARTNERS acquired a new stake in AvalonBay Communities in the 2nd quarter valued at approximately $1,538,000. Swedbank AB acquired a new stake in AvalonBay Communities in the 1st quarter valued at approximately $4,532,000. American Assets Capital Advisers LLC acquired a new stake in AvalonBay Communities in the 3rd quarter valued at approximately $1,014,000. Diversified Trust Co acquired a new stake in AvalonBay Communities in the 2nd quarter valued at approximately $1,139,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of AvalonBay Communities by 10.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock worth $18,338,000 after acquiring an additional 9,125 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVB. Scotiabank reduced their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company raised their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Evercore ISI raised their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $226.88.

Insider Activity

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

AvalonBay Communities Trading Up 1.0 %

Shares of AVB opened at $237.81 on Friday. The stock has a fifty day moving average price of $226.74 and a two-hundred day moving average price of $214.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29. The company has a market cap of $33.83 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.40 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the previous year, the firm posted $2.66 EPS. Analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal 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 given a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.86%. AvalonBay Communities’s payout ratio is 93.02%.

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.