Handelsbanken Fonder AB Purchases 1,881 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Handelsbanken Fonder AB increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,229 shares of the real estate investment trust’s stock after purchasing an additional 1,881 shares during the period. Handelsbanken Fonder AB’s holdings in AvalonBay Communities were worth $12,587,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVB. Pinnacle Bancorp Inc. bought a new position in AvalonBay Communities during the 3rd quarter valued at about $26,000. Castleview Partners LLC lifted its stake in 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 valued at $39,000 after acquiring an additional 216 shares during the period. Ronald Blue Trust Inc. lifted its stake in AvalonBay Communities by 316.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 171 shares during the period. Arlington Trust Co LLC bought a new position in AvalonBay Communities during the 4th quarter valued at about $45,000. Finally, Lindbrook Capital LLC lifted its stake in AvalonBay Communities by 53.7% during the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 109 shares during the period. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AVB shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Barclays upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $194.00 to $204.00 in a research note on Tuesday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of AvalonBay Communities in a research note on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $191.50 in a research note on Monday, February 26th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $196.78.

Insider Activity at AvalonBay Communities

In related news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value 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 $5,812,330.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Trading Up 1.0 %

Shares of AVB opened at $188.66 on Wednesday. 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 1 year low of $160.45 and a 1 year high of $198.65. The company has a 50 day simple moving average of $181.74 and a two-hundred day simple moving average of $178.34. The firm has a market cap of $26.82 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 3.43 and a beta of 0.92.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (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 company had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. During the same period last year, the business earned $2.59 earnings per share. On average, equities analysts expect that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $1.70 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.60%. AvalonBay Communities’s dividend payout ratio (DPR) is 103.82%.

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.