Edgestream Partners L.P. Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Edgestream Partners L.P. grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 14.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,018 shares of the real estate investment trust’s stock after buying an additional 2,513 shares during the quarter. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $4,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. &PARTNERS purchased a new stake in shares of AvalonBay Communities in the second quarter valued at approximately $1,538,000. Swedbank AB purchased a new stake in shares of AvalonBay Communities in the first quarter valued at approximately $4,532,000. American Assets Capital Advisers LLC purchased a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $1,014,000. Diversified Trust Co purchased a new stake in shares of AvalonBay Communities in the second quarter valued at approximately $1,139,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of AvalonBay Communities by 10.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock worth $18,338,000 after acquiring an additional 9,125 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $235.35 on Friday. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $239.29. The business’s fifty day simple moving average is $226.85 and its 200-day simple moving average is $215.26. The firm has a market cap of $33.48 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 3.47 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

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

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.89%. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Analyst Ratings Changes

AVB has been the topic of a number of research analyst reports. Truist Financial lifted their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Scotiabank lowered their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. BNP Paribas initiated coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $228.67.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now owns 87,239 shares in the company, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

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.