Atom Investors LP Cuts Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Atom Investors LP trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 37.9% during the third quarter, Holdings Channel.com reports. The firm owned 18,030 shares of the real estate investment trust’s stock after selling 11,024 shares during the period. Atom Investors LP’s holdings in AvalonBay Communities were worth $4,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Swedbank AB acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $4,532,000. Atria Investments Inc grew its position in AvalonBay Communities by 5.1% during the first 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. Cetera Investment Advisers increased its stake in AvalonBay Communities by 153.3% in the 1st quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock valued at $3,259,000 after purchasing an additional 10,629 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of AvalonBay Communities by 151.5% during the 1st quarter. Cetera Advisors LLC now owns 10,455 shares of the real estate investment trust’s stock worth $1,940,000 after buying an additional 6,298 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in AvalonBay Communities by 56.2% during the second quarter. GAMMA Investing LLC now owns 1,885 shares of the real estate investment trust’s stock worth $390,000 after acquiring an additional 678 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $235.35 on Monday. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $33.48 billion, a P/E ratio of 32.20, a PEG ratio of 3.44 and a beta of 0.97. The firm’s 50 day moving average is $226.85 and its two-hundred day moving average is $215.37.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter last year, the firm posted $2.66 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.89%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Insider Activity

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares in the company, valued at $26,051,508.08. This represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Scotiabank dropped their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Evercore ISI increased their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $228.67.

AvalonBay Communities Company 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.