Asset Management One Co. Ltd. Sells 10,792 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Asset Management One Co. Ltd. decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,237 shares of the real estate investment trust’s stock after selling 10,792 shares during the quarter. Asset Management One Co. Ltd. owned 0.19% of AvalonBay Communities worth $62,448,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. National Pension Service lifted its position in shares of AvalonBay Communities by 9.8% during the third quarter. National Pension Service now owns 212,409 shares of the real estate investment trust’s stock valued at $47,845,000 after buying an additional 18,888 shares during the last quarter. Intact Investment Management Inc. increased its holdings in AvalonBay Communities by 8.0% in the 3rd quarter. Intact Investment Management Inc. now owns 31,100 shares of the real estate investment trust’s stock worth $7,005,000 after buying an additional 2,300 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in AvalonBay Communities by 12.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 336,587 shares of the real estate investment trust’s stock worth $75,816,000 after buying an additional 36,732 shares during the period. Van ECK Associates Corp increased its holdings in AvalonBay Communities by 11.5% in the 3rd quarter. Van ECK Associates Corp now owns 65,826 shares of the real estate investment trust’s stock worth $15,110,000 after buying an additional 6,811 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of AvalonBay Communities by 2.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 51,154 shares of the real estate investment trust’s stock worth $11,523,000 after purchasing an additional 1,152 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity

In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler raised their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Scotiabank boosted their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $225.88.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB traded up $1.12 during trading on Monday, reaching $217.40. The stock had a trading volume of 23,953 shares, compared to its average volume of 726,636. AvalonBay Communities, Inc. has a 52 week low of $164.76 and a 52 week high of $236.26. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 36.60, a P/E/G ratio of 3.37 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $225.55 and a two-hundred day simple moving average of $209.94.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.13%. AvalonBay Communities’s dividend payout ratio is presently 115.06%.

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.