Rafferty Asset Management LLC Buys 3,169 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Rafferty Asset Management LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,042 shares of the real estate investment trust’s stock after acquiring an additional 3,169 shares during the quarter. Rafferty Asset Management LLC’s holdings in AvalonBay Communities were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AVB. Jump Financial LLC bought a new position in AvalonBay Communities in the 3rd quarter worth approximately $412,000. Van ECK Associates Corp lifted its stake in shares of AvalonBay Communities by 2.7% during the third quarter. Van ECK Associates Corp now owns 51,534 shares of the real estate investment trust’s stock valued at $8,850,000 after acquiring an additional 1,351 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of AvalonBay Communities by 1.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,057 shares of the real estate investment trust’s stock valued at $1,384,000 after acquiring an additional 126 shares during the period. Pathstone Family Office LLC boosted its holdings in AvalonBay Communities by 42.0% in the third quarter. Pathstone Family Office LLC now owns 8,416 shares of the real estate investment trust’s stock valued at $1,456,000 after acquiring an additional 2,490 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in AvalonBay Communities by 47.2% in the third quarter. HighTower Advisors LLC now owns 19,029 shares of the real estate investment trust’s stock worth $3,263,000 after purchasing an additional 6,104 shares during the period. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Down 0.5 %

AVB opened at $197.21 on Friday. The stock has a market capitalization of $28.04 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.90 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $200.71. The firm’s fifty day simple moving average is $190.82 and its 200 day simple moving average is $183.84.

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

AvalonBay Communities Dividend Announcement

The firm 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 3.45%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVB. Royal Bank of Canada raised their target price on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. UBS Group upped their target price on shares of AvalonBay Communities from $199.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Barclays upped their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Truist Financial raised their target price on AvalonBay Communities from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Friday, May 24th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $204.89.

View Our Latest Research Report on AVB

About AvalonBay Communities

(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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