Nicola Wealth Management LTD. Has $2.13 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Nicola Wealth Management LTD. grew its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,450 shares of the real estate investment trust’s stock after buying an additional 900 shares during the quarter. Nicola Wealth Management LTD.’s holdings in AvalonBay Communities were worth $2,129,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 13,631 shares in the last quarter. Canada Pension Plan Investment Board increased its position in 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 acquiring an additional 249,400 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of AvalonBay Communities by 0.5% in the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock worth $342,824,000 after acquiring an additional 8,809 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of AvalonBay Communities by 11.9% during the second 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 purchasing an additional 126,055 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of AvalonBay Communities by 6.1% during the first quarter. Janus Henderson Group PLC now owns 521,815 shares of the real estate investment trust’s stock valued at $96,781,000 after purchasing an additional 29,953 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVB shares. Deutsche Bank Aktiengesellschaft upped their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. UBS Group raised their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. 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 note on Monday, September 16th. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. 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, the company presently has an average rating of “Hold” and a consensus target price of $226.88.

Insiders Place Their Bets

In other news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the sale, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded down $2.31 during midday trading on Thursday, hitting $230.80. 100,239 shares of the company’s stock were exchanged, compared to its average volume of 724,181. 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 firm has a market capitalization of $32.82 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 3.36 and a beta of 0.97. AvalonBay Communities, Inc. has a 12 month low of $166.60 and a 12 month high of $236.26. The company’s 50 day moving average price is $226.23 and its 200 day moving average price is $212.05.

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

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 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.