California Public Employees Retirement System Sells 1,144 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

California Public Employees Retirement System cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 350,879 shares of the real estate investment trust’s stock after selling 1,144 shares during the period. California Public Employees Retirement System owned approximately 0.25% of AvalonBay Communities worth $65,692,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Castleview Partners LLC boosted its stake in shares of AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 216 shares during the period. Arlington Trust Co LLC purchased a new stake in AvalonBay Communities in the 4th quarter valued at about $45,000. Lindbrook Capital LLC boosted its position in AvalonBay Communities by 53.7% in the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 109 shares during the period. Sandy Spring Bank boosted its position in AvalonBay Communities by 4,428.6% in the 3rd quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 310 shares during the period. Finally, Bear Mountain Capital Inc. purchased a new stake in AvalonBay Communities in the 4th quarter valued at about $66,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Stock Down 0.0 %

AVB stock opened at $191.30 on Friday. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 3.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65. The company has a fifty day moving average price of $182.37 and a 200 day moving average price of $178.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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 net margin of 33.56% and a return on equity of 7.98%. The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. During the same period in the previous year, the company posted $2.59 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $1.70 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 annualized dividend and a yield of 3.55%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AVB shares. Deutsche Bank Aktiengesellschaft started 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 for the company. KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $185.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Finally, Truist Financial reduced their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus price target of $196.78.

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.