AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by American International Group Inc.

American International Group Inc. reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,097 shares of the real estate investment trust’s stock after selling 141 shares during the quarter. American International Group Inc.’s holdings in AvalonBay Communities were worth $6,884,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC grew its position in AvalonBay Communities by 270.0% in the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. Arlington Trust Co LLC acquired a new position in AvalonBay Communities in the 4th quarter valued at about $45,000. Bear Mountain Capital Inc. acquired a new position in AvalonBay Communities in the 4th quarter valued at about $66,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of AvalonBay Communities during the first quarter worth about $68,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AVB shares. Mizuho boosted their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Barclays boosted their target price on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Truist Financial increased their price target on shares of AvalonBay Communities from $207.00 to $213.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Finally, Evercore ISI increased their price target on shares of AvalonBay Communities from $205.00 to $207.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $207.76.

AvalonBay Communities Trading Down 1.6 %

NYSE:AVB opened at $202.83 on Friday. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $211.20. The stock has a market capitalization of $28.84 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 3.00 and a beta of 0.96. The stock has a fifty day moving average price of $201.02 and a two-hundred day moving average price of $189.19. 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 (NYSE:AVB) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The firm had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. During the same quarter in the prior year, the business earned $2.57 EPS. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Friday, June 28th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

AvalonBay Communities 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.