Gulf International Bank UK Ltd Has $2.53 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Gulf International Bank UK Ltd decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,221 shares of the real estate investment trust’s stock after selling 532 shares during the period. Gulf International Bank UK Ltd’s holdings in AvalonBay Communities were worth $2,527,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in AvalonBay Communities by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after acquiring an additional 13,631 shares during the period. Canada Pension Plan Investment Board grew its position in shares of AvalonBay Communities by 14.4% in the 1st 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 purchasing an additional 249,400 shares during the period. Clearbridge Investments LLC increased its stake in AvalonBay Communities by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock worth $342,824,000 after purchasing an additional 8,809 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AvalonBay Communities by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after buying an additional 126,055 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in AvalonBay Communities by 11.9% in the first quarter. Russell Investments Group Ltd. now owns 784,723 shares of the real estate investment trust’s stock valued at $145,576,000 after buying an additional 83,400 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVB. Royal Bank of Canada lowered their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday. Piper Sandler upped their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Scotiabank upped their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Trading Down 0.6 %

AvalonBay Communities stock opened at $224.93 on Thursday. The stock has a 50-day simple moving average of $225.66 and a 200 day simple moving average of $210.60. The stock has a market capitalization of $31.99 billion, a P/E ratio of 30.77, a PEG ratio of 3.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities, Inc. has a 52 week low of $164.76 and a 52 week high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued its 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 return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the prior year, the firm posted $2.66 earnings per share. Analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

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 given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is presently 93.02%.

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.