AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 23.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,531 shares of the real estate investment trust’s stock after selling 31,900 shares during the period. New York State Common Retirement Fund’s holdings in AvalonBay Communities were worth $23,771,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities during the 2nd quarter valued at about $32,000. Versant Capital Management Inc increased its stake in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares during the last quarter. Mather Group LLC. raised its stake in AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 56 shares during the period. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities during the 1st quarter worth approximately $39,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AVB shares. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada lifted 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. BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. 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 research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $225.88.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $216.28 on Monday. The firm has a market capitalization of $30.76 billion, a PE ratio of 36.60, a PEG ratio of 3.37 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $225.55 and its 200-day moving average is $209.94. AvalonBay Communities, Inc. has a 1-year low of $164.76 and a 1-year high of $236.26.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.14%. 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.