Hazelview Securities Inc. Sells 42,500 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Hazelview Securities Inc. lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 22.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 144,657 shares of the real estate investment trust’s stock after selling 42,500 shares during the quarter. AvalonBay Communities comprises 4.9% of Hazelview Securities Inc.’s portfolio, making the stock its 7th largest position. Hazelview Securities Inc. owned approximately 0.10% of AvalonBay Communities worth $26,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. West Coast Financial LLC raised its position in shares of AvalonBay Communities by 3.9% during the 1st quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 65 shares during the period. First Affirmative Financial Network grew its holdings in AvalonBay Communities by 4.8% in the 4th quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 69 shares in the last quarter. Czech National Bank grew its holdings in AvalonBay Communities by 0.3% in the 1st quarter. Czech National Bank now owns 24,959 shares of the real estate investment trust’s stock worth $4,631,000 after buying an additional 86 shares in the last quarter. Wealth Alliance boosted its stake in AvalonBay Communities by 5.8% during the 4th quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 88 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in AvalonBay Communities by 4.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,252 shares of the real estate investment trust’s stock valued at $422,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.1 %

Shares of NYSE:AVB traded down $0.25 during midday trading on Wednesday, hitting $204.04. 401,489 shares of the stock were exchanged, compared to its average volume of 741,134. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $208.12. The business’s fifty day simple moving average is $195.35 and its two-hundred day simple moving average is $186.33. The company has a market capitalization of $29.01 billion, a PE ratio of 30.50, a P/E/G ratio of 2.98 and a beta of 0.93.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data 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 return on equity of 8.12% and a net margin of 34.05%. The firm had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same quarter in the prior year, the business posted $2.57 earnings per share. As a group, research analysts predict that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

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 paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is 101.19%.

Analyst Ratings Changes

A number of brokerages have issued reports on AVB. Argus increased their price target on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group increased their price target on AvalonBay Communities from $199.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Scotiabank raised their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Piper Sandler raised their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Morgan Stanley raised their price objective on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $206.22.

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.