AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,416 shares of the real estate investment trust’s stock after purchasing an additional 5,638 shares during the period. UniSuper Management Pty Ltd’s holdings in AvalonBay Communities were worth $8,799,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC increased its position in shares of 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 during the period. Pinnacle Bancorp Inc. grew its position in AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the period. Arlington Trust Co LLC acquired a new stake in AvalonBay Communities during the 4th quarter worth about $45,000. Bear Mountain Capital Inc. acquired a new stake in AvalonBay Communities during the 4th quarter worth about $66,000. Finally, Sunbelt Securities Inc. acquired a new stake in AvalonBay Communities during the 1st quarter worth about $68,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVB. Barclays increased their target price on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Scotiabank increased their target price on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Evercore ISI raised 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. Finally, Piper Sandler raised their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Twelve 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, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $207.76.

AvalonBay Communities Trading Down 0.5 %

NYSE:AVB traded down $1.08 during trading hours on Tuesday, reaching $208.19. 381,280 shares of the stock were exchanged, compared to its average volume of 727,706. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $200.77 and a two-hundred day moving average of $188.97. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $211.20. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.02 and a beta of 0.96.

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). The company had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter in the previous year, the business posted $2.57 earnings per share. On average, equities analysts predict that AvalonBay Communities, Inc. will post 10.92 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.27%. The ex-dividend date was Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

About AvalonBay Communities

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.