Swiss National Bank Has $95.06 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Swiss National Bank grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 422,021 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the period. Swiss National Bank owned approximately 0.30% of AvalonBay Communities worth $95,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVB. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the 2nd quarter worth $32,000. Versant Capital Management Inc boosted its stake 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 worth $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the 1st quarter worth $39,000. Mather Group LLC. boosted its stake in AvalonBay Communities by 38.6% in 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 during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVB shares. Royal Bank of Canada reduced their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Scotiabank cut their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. BNP Paribas began coverage on shares of 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 boosted 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 report on Monday, September 16th. Finally, Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $226.88.

AvalonBay Communities Stock Down 0.1 %

AvalonBay Communities stock opened at $229.22 on Tuesday. The stock has a market cap of $32.60 billion, a P/E ratio of 31.36, a P/E/G ratio of 3.35 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a twelve month low of $166.60 and a twelve month high of $236.26. The company’s 50-day moving average price is $226.45 and its two-hundred day moving average price is $213.02.

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

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.97%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

About AvalonBay Communities

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.