AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Raised by Centiva Capital LP

Centiva Capital LP lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 36.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,890 shares of the real estate investment trust’s stock after purchasing an additional 1,581 shares during the quarter. Centiva Capital LP’s holdings in AvalonBay Communities were worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AVB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AvalonBay Communities by 678.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock valued at $386,315,000 after buying an additional 1,494,872 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of AvalonBay Communities by 487.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after buying an additional 298,322 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $581,960,000. SG Americas Securities LLC grew its position in shares of AvalonBay Communities by 958.9% during the 3rd quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust’s stock valued at $38,882,000 after buying an additional 156,316 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $29,256,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.2 %

AVB stock opened at $227.87 on Thursday. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The firm has a market cap of $32.41 billion, a PE ratio of 31.17, a P/E/G ratio of 3.37 and a beta of 0.98. The firm has a 50 day simple moving average of $226.73 and a 200 day simple moving average of $215.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last released 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 net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the company earned $2.66 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Insider Activity

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction that occurred on 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 owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVB has been the subject of several recent analyst reports. Scotiabank decreased their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Wells Fargo & Company upped their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Evercore ISI upped 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, Royal Bank of Canada decreased 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 report on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $228.67.

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.