NEOS Investment Management LLC Has $376,000 Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

NEOS Investment Management LLC boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 34.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,008 shares of the real estate investment trust’s stock after buying an additional 517 shares during the quarter. NEOS Investment Management LLC’s holdings in AvalonBay Communities were worth $376,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AVB. Norges Bank bought a new stake in shares of AvalonBay Communities during the fourth quarter worth about $1,271,756,000. Deutsche Bank AG boosted its holdings in AvalonBay Communities by 6.5% in the third quarter. Deutsche Bank AG now owns 2,496,671 shares of the real estate investment trust’s stock valued at $428,778,000 after acquiring an additional 151,995 shares during the last quarter. Wellington Management Group LLP boosted its holdings in AvalonBay Communities by 17.4% in the third quarter. Wellington Management Group LLP now owns 2,298,186 shares of the real estate investment trust’s stock valued at $394,690,000 after acquiring an additional 341,332 shares during the last quarter. Northern Trust Corp boosted its holdings in AvalonBay Communities by 5.9% in the third quarter. Northern Trust Corp now owns 2,278,363 shares of the real estate investment trust’s stock valued at $391,286,000 after acquiring an additional 126,288 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in AvalonBay Communities by 1.4% in the fourth quarter. Clearbridge Investments LLC now owns 1,838,702 shares of the real estate investment trust’s stock valued at $344,242,000 after acquiring an additional 25,625 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVB. Argus upped their target price on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley upped their target price on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Barclays upped their target price on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Evercore ISI lowered AvalonBay Communities from an “outperform” rating to an “inline” rating and set a $202.00 price target on the stock. in a research note on Monday, May 13th. Finally, Wells Fargo & Company boosted their price target on AvalonBay Communities from $189.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $204.89.

Get Our Latest Report on AVB

AvalonBay Communities Stock Up 0.8 %

AVB stock opened at $198.48 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $28.22 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.84 and a beta of 0.93. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $200.71. The stock has a fifty day moving average of $190.33 and a 200-day moving average of $183.55.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). The firm had revenue of $712.86 million for the quarter, compared to the consensus estimate of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same quarter in the previous year, the company posted $2.57 EPS. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 10.9 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.43%. AvalonBay Communities’s payout ratio is 101.19%.

Insider Buying and Selling

In related news, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Profile

(Free Report)

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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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