3,280 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Purchased by Norden Group LLC

Norden Group LLC acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVBFree Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,280 shares of the real estate investment trust’s stock, valued at approximately $609,000.

Several other institutional investors also recently bought and sold shares of the business. Byrne Asset Management LLC grew its stake in AvalonBay Communities by 270.0% in the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 135 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Arlington Trust Co LLC acquired a new position in shares of AvalonBay Communities during the 4th quarter worth about $45,000. Bear Mountain Capital Inc. purchased a new position in AvalonBay Communities in the 4th quarter valued at about $66,000. Finally, Sunbelt Securities Inc. acquired a new stake in AvalonBay Communities in the 1st quarter worth about $68,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Trading Down 0.1 %

Shares of AVB stock opened at $203.69 on Thursday. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $208.45. The company has a 50 day moving average price of $198.87 and a 200 day moving average price of $187.74. The stock has a market capitalization of $28.96 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The company had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same period in the prior year, the company posted $2.57 EPS. Equities research analysts predict that AvalonBay Communities, Inc. will post 10.92 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors 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 dividend on an annualized basis and a dividend yield of 3.34%. AvalonBay Communities’s payout ratio is 101.19%.

Wall Street Analysts Forecast Growth

AVB has been the topic of several research reports. Scotiabank raised their target price on AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Truist Financial raised their target price on shares of AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. upped their price target on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Argus raised their target price on AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, UBS Group boosted their price target 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. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $207.17.

Get Our Latest Stock Report on AVB

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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