B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,511 shares of the real estate investment trust's stock, valued at approximately $2,368,000.
Several other hedge funds have also recently bought and sold shares of AVB. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities during the second quarter worth $32,000. Versant Capital Management Inc raised its stake in shares of AvalonBay Communities by 1,877.8% during 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 in the last quarter. Mather Group LLC. lifted its holdings in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 56 shares during the last quarter. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities in the 1st quarter valued at approximately $39,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust's stock worth $54,000 after buying an additional 73 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.
In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction on Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares of the company's stock, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by company insiders.
AVB has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Royal Bank of Canada decreased 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 report on Wednesday, November 6th. BNP Paribas assumed coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an "outperform" rating and a $250.00 target price on the stock. Truist Financial upped their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $226.88.
Get Our Latest Report on AVB
NYSE:AVB opened at $231.18 on Friday. The firm's 50-day moving average is $226.41 and its 200-day moving average is $213.51. The company has a market cap of $32.88 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 3.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $236.26.
AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm 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 earned $2.66 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.94%. AvalonBay Communities's dividend payout ratio is currently 93.02%.
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.
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