Abel Hall LLC Purchases Shares of 1,077 AvalonBay Communities, Inc. (NYSE:AVB)

Abel Hall LLC purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,077 shares of the real estate investment trust’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $45,000. Bear Mountain Capital Inc. purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $66,000. Gold Investment Management Ltd. purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $71,000. Blue Trust Inc. boosted its stake in shares of AvalonBay Communities by 139.6% in the 4th quarter. Blue Trust Inc. now owns 539 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 314 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its stake in shares of AvalonBay Communities by 200.0% in the 4th quarter. PFG Private Wealth Management LLC now owns 555 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

NYSE:AVB traded up $1.98 during midday trading on Friday, hitting $201.89. The company had a trading volume of 409,989 shares, compared to its average volume of 559,553. The stock’s fifty day moving average price is $192.70 and its 200-day moving average price is $184.87. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $201.96. The company has a market capitalization of $28.71 billion, a PE ratio of 30.04, a P/E/G ratio of 2.95 and a beta of 0.93.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The business had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same quarter in the previous year, the company earned $2.57 earnings per share. As a group, research analysts expect that AvalonBay Communities, Inc. will post 10.9 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.37%. AvalonBay Communities’s payout ratio is 101.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVB shares. Piper Sandler lifted their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $189.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Scotiabank boosted their target price on shares of AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Royal Bank of Canada boosted their target price on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Finally, UBS Group boosted their target price on shares of AvalonBay Communities from $199.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $204.89.

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.