FSM Wealth Advisors LLC Invests $232,000 in AvalonBay Communities, Inc. (NYSE:AVB)

FSM Wealth Advisors LLC bought a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,031 shares of the real estate investment trust’s stock, valued at approximately $232,000.

Several other large investors have also made changes to their positions in AVB. Daiwa Securities Group Inc. lifted its position in AvalonBay Communities by 487.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after purchasing an additional 298,322 shares during the period. International Assets Investment Management LLC bought a new stake in AvalonBay Communities during the 3rd quarter worth approximately $581,960,000. Canada Pension Plan Investment Board increased its stake in AvalonBay Communities by 14.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after purchasing an additional 249,400 shares in the last quarter. SG Americas Securities LLC increased its stake in AvalonBay Communities by 4,563.7% during the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock worth $39,488,000 after purchasing an additional 208,240 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in AvalonBay Communities during the 3rd quarter worth approximately $29,256,000. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on AVB shares. Wells Fargo & Company increased their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. BNP Paribas started coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Truist Financial increased their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Scotiabank increased their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $225.88.

AvalonBay Communities Trading Up 3.6 %

AVB opened at $226.38 on Wednesday. The company has a market cap of $32.20 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. The company has a fifty day moving average price of $225.62 and a two-hundred day moving average price of $210.50. AvalonBay Communities, Inc. has a 1-year low of $164.76 and a 1-year high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 115.06%.

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.