Caxton Associates LP Purchases Shares of 2,225 AvalonBay Communities, Inc. (NYSE:AVB)

Caxton Associates LP acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,225 shares of the real estate investment trust’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. SVB Wealth LLC grew its stake in AvalonBay Communities by 1.1% in the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after buying an additional 62 shares during the last quarter. West Coast Financial LLC lifted its holdings in shares of AvalonBay Communities by 3.9% during the first quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 65 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of AvalonBay Communities by 1.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 6,361 shares of the real estate investment trust’s stock valued at $1,180,000 after acquiring an additional 69 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 75 shares during the period. Finally, Czech National Bank increased its position in shares of AvalonBay Communities by 0.3% in the first quarter. Czech National Bank now owns 24,959 shares of the real estate investment trust’s stock worth $4,631,000 after purchasing an additional 86 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AVB. Truist Financial boosted their target price on shares of AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a report on Monday, June 24th. Piper Sandler raised their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Wells Fargo & Company upped their target price on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Morgan Stanley raised their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $207.76.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded down $2.89 during midday trading on Tuesday, hitting $205.43. 215,766 shares of the company’s stock traded hands, compared to its average volume of 715,961. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 3.01 and a beta of 0.96. The firm has a fifty day moving average of $201.39 and a 200 day moving average of $189.61. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $211.20.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.31%. 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.