Ossiam Reduces Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Ossiam cut its stake in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 35.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,442 shares of the real estate investment trust’s stock after selling 4,555 shares during the period. Ossiam’s holdings in AvalonBay Communities were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Sompo Asset Management Co. Ltd. purchased a new position in AvalonBay Communities in the fourth quarter worth approximately $324,000. Vinva Investment Management Ltd grew its position in AvalonBay Communities by 15.2% in the fourth quarter. Vinva Investment Management Ltd now owns 4,717 shares of the real estate investment trust’s stock worth $894,000 after acquiring an additional 622 shares during the period. Pinebridge Investments L.P. boosted its position in shares of AvalonBay Communities by 1,691.9% during the fourth quarter. Pinebridge Investments L.P. now owns 52,735 shares of the real estate investment trust’s stock worth $9,873,000 after buying an additional 49,792 shares during the period. Cibc World Markets Corp boosted its position in shares of AvalonBay Communities by 735.5% during the fourth quarter. Cibc World Markets Corp now owns 65,485 shares of the real estate investment trust’s stock worth $12,260,000 after buying an additional 57,647 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of AvalonBay Communities by 504.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 20,543 shares of the real estate investment trust’s stock valued at $3,846,000 after buying an additional 17,143 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.1 %

Shares of NYSE AVB opened at $199.46 on Tuesday. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $200.71. The company has a market cap of $28.36 billion, a P/E ratio of 29.68, a P/E/G ratio of 2.88 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $191.18 and a 200 day moving average price of $184.20.

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

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.41%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Evercore ISI cut AvalonBay Communities from an “outperform” rating to an “inline” rating and set a $202.00 price objective for the company. in a research note on Monday, May 13th. Barclays lifted their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. UBS Group lifted their price objective on AvalonBay Communities from $199.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company lifted their price objective 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $204.89.

Read Our Latest Analysis on AvalonBay Communities

AvalonBay Communities Company 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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