DekaBank Deutsche Girozentrale Has $18.34 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

DekaBank Deutsche Girozentrale boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.0% in the first quarter, Holdings Channel.com reports. The fund owned 100,334 shares of the real estate investment trust’s stock after buying an additional 9,125 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AvalonBay Communities were worth $18,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVB. Cetera Advisors LLC raised its position in shares of AvalonBay Communities by 151.5% in the 1st quarter. Cetera Advisors LLC now owns 10,455 shares of the real estate investment trust’s stock valued at $1,940,000 after acquiring an additional 6,298 shares during the period. Cetera Investment Advisers boosted its position in shares of AvalonBay Communities by 153.3% during the first quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock worth $3,259,000 after purchasing an additional 10,629 shares in the last quarter. PGGM Investments grew its holdings in shares of AvalonBay Communities by 18.0% in the 1st quarter. PGGM Investments now owns 4,555 shares of the real estate investment trust’s stock valued at $845,000 after buying an additional 694 shares during the period. Atria Investments Inc raised its stake in AvalonBay Communities by 5.1% during the 1st quarter. Atria Investments Inc now owns 10,044 shares of the real estate investment trust’s stock worth $1,864,000 after buying an additional 490 shares during the period. Finally, Swedbank AB bought a new stake in shares of AvalonBay Communities in the first quarter worth about $4,532,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB traded down $3.01 during trading hours on Friday, hitting $210.02. The company’s stock had a trading volume of 1,051,279 shares, compared to its average volume of 586,950. The business has a 50 day simple moving average of $202.36 and a two-hundred day simple moving average of $190.23. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $218.79. The company has a market cap of $29.86 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.09 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The business had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the prior year, the business posted $2.66 EPS. On average, equities analysts expect that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $1.70 dividend. The ex-dividend date was Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.24%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Analysts Set New Price Targets

AVB has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Piper Sandler boosted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price target on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Scotiabank increased their price objective 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. Finally, Barclays raised their price target on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $210.29.

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.