AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 10.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,450 shares of the real estate investment trust’s stock after purchasing an additional 900 shares during the period. Nicola Wealth Management LTD.’s holdings in AvalonBay Communities were worth $2,129,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. increased its holdings in shares of AvalonBay Communities by 487.8% in 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 acquiring an additional 298,322 shares during the last quarter. International Assets Investment Management LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $581,960,000. Canada Pension Plan Investment Board increased its stake in shares of AvalonBay Communities by 14.4% in 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 purchasing an additional 249,400 shares during the period. SG Americas Securities LLC raised its holdings in shares of AvalonBay Communities by 958.9% during the third 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 acquired a new position in shares of AvalonBay Communities during the third quarter worth approximately $29,256,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.0 %

Shares of AvalonBay Communities stock traded down $2.31 during midday trading on Thursday, hitting $230.80. The company’s stock had a trading volume of 100,239 shares, compared to its average volume of 724,181. The firm has a market capitalization of $32.82 billion, a P/E ratio of 31.58, a PEG ratio of 3.36 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $166.60 and a 1-year high of $236.26. 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 stock has a 50-day simple moving average of $226.23 and a 200-day simple moving average of $212.05.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period last year, the firm earned $2.66 EPS. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVB. Piper Sandler boosted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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 boosted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. BNP Paribas assumed coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $226.88.

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.