E. Ohman J or Asset Management AB Lowers Position in AvalonBay Communities, Inc. (NYSE:AVB)

E. Ohman J or Asset Management AB decreased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,550 shares of the real estate investment trust’s stock after selling 650 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in AvalonBay Communities were worth $1,250,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in AvalonBay Communities by 0.7% during 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 during the last quarter. Canada Pension Plan Investment Board raised its stake in AvalonBay Communities by 14.4% during the first 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 buying an additional 249,400 shares during the last quarter. Clearbridge Investments LLC raised its stake in AvalonBay Communities by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock valued at $342,824,000 after buying an additional 8,809 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $244,776,000 after buying an additional 126,055 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in AvalonBay Communities by 11.9% during 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 during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

NYSE AVB opened at $226.33 on Friday. The company has a market capitalization of $32.18 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 3.33 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. The business’s fifty day moving average is $224.68 and its 200 day moving average is $207.88. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $236.26.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter last year, the firm posted $2.66 earnings per share. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.00%. AvalonBay Communities’s payout ratio is 101.19%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVB. Piper Sandler lifted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their target price on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. BNP Paribas began coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Zelman & Associates raised AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $225.88.

Insider Activity

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

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.