Walter Public Investments Inc. Has $721,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

Walter Public Investments Inc. boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 45.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,200 shares of the real estate investment trust’s stock after acquiring an additional 1,000 shares during the quarter. Walter Public Investments Inc.’s holdings in AvalonBay Communities were worth $721,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVB. Daiwa Securities Group Inc. lifted its holdings in AvalonBay Communities by 487.8% in the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after buying an additional 298,322 shares during the period. Canada Pension Plan Investment Board lifted its holdings in AvalonBay Communities by 14.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after buying an additional 249,400 shares during the period. SG Americas Securities LLC lifted its holdings in AvalonBay Communities by 4,563.7% in the first quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after buying an additional 208,240 shares during the period. Artemis Investment Management LLP acquired a new position in AvalonBay Communities in the third quarter valued at approximately $29,256,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in AvalonBay Communities in the second quarter valued at approximately $26,755,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on AVB shares. 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 report on Friday, August 2nd. Piper Sandler increased their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company increased their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Stock Up 0.9 %

AvalonBay Communities stock opened at $225.67 on Thursday. The company has a market cap of $32.09 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26. The company has a fifty day simple moving average of $222.83 and a 200 day simple moving average of $206.13. 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 (NYSE:AVB) last released 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 during 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 last year, the business posted $2.66 EPS. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

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.