International Assets Investment Management LLC Purchases Shares of 258,362 AvalonBay Communities, Inc. (NYSE:AVB)

International Assets Investment Management LLC purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 258,362 shares of the real estate investment trust’s stock, valued at approximately $581,960,000.

Several other large investors have also added to or reduced their stakes in the company. Lake Street Private Wealth LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $203,000. Private Advisor Group LLC lifted its holdings in AvalonBay Communities by 15.3% during the third quarter. Private Advisor Group LLC now owns 2,449 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 325 shares in the last quarter. Segment Wealth Management LLC lifted its holdings in AvalonBay Communities by 4.6% during the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 45 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in AvalonBay Communities by 6.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,321 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 138 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 of the company’s stock, valued at $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the topic of several recent analyst reports. Scotiabank lifted their price objective on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, UBS Group lifted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Trading Up 2.1 %

AVB stock opened at $229.54 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The firm’s fifty day simple moving average is $224.38 and its two-hundred day simple moving average is $207.73.

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

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 101.19%.

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.