KBC Group NV Buys 108,371 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

KBC Group NV raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 284.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,429 shares of the real estate investment trust’s stock after purchasing an additional 108,371 shares during the period. KBC Group NV owned approximately 0.10% of AvalonBay Communities worth $32,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc raised its holdings in AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities in the 1st quarter worth approximately $39,000. Mather Group LLC. grew its holdings in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of AvalonBay Communities by 38.8% during 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 purchasing an additional 73 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $227.93 on Friday. AvalonBay Communities, Inc. has a 12-month low of $166.60 and a 12-month high of $236.26. The stock has a 50-day simple moving average of $226.23 and a 200 day simple moving average of $212.05. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $32.42 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 3.36 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same period in the prior year, the firm posted $2.66 earnings per share. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.98%. AvalonBay Communities’s payout ratio is 93.02%.

Insider Activity

In related news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVB. UBS Group raised their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Piper Sandler raised their price objective 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI raised their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $226.88.

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.