AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Rye Brook Capital LLC

Rye Brook Capital LLC raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,600 shares of the real estate investment trust’s stock after acquiring an additional 400 shares during the quarter. AvalonBay Communities makes up 1.7% of Rye Brook Capital LLC’s investment portfolio, making the stock its 12th biggest holding. Rye Brook Capital LLC’s holdings in AvalonBay Communities were worth $3,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVB. Cetera Advisor Networks LLC boosted its position in shares of AvalonBay Communities by 8.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $369,000 after purchasing an additional 113 shares during the period. Private Advisor Group LLC boosted its position in shares of AvalonBay Communities by 18.0% in the 1st quarter. Private Advisor Group LLC now owns 2,007 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 306 shares during the period. Prudential PLC acquired a new stake in shares of AvalonBay Communities in the 1st quarter valued at about $704,000. Cetera Investment Advisers raised its stake in AvalonBay Communities by 54.4% during the 1st quarter. Cetera Investment Advisers now owns 5,260 shares of the real estate investment trust’s stock valued at $1,306,000 after acquiring an additional 1,853 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in AvalonBay Communities by 7.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 12,461 shares of the real estate investment trust’s stock valued at $3,095,000 after acquiring an additional 901 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

NYSE:AVB traded down $3.06 during mid-day trading on Monday, hitting $180.72. The company’s stock had a trading volume of 648,976 shares, compared to its average volume of 818,300. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 3.42 and a beta of 0.92. The stock has a fifty day moving average of $180.54 and a 200-day moving average of $177.75.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. During the same period last year, the company earned $2.59 EPS. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 10.8 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.76%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date is Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Truist Financial reduced their price objective on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $175.00 to $191.50 in a report on Monday, February 26th. Royal Bank of Canada restated a “sector perform” rating and set a $185.00 price objective on shares of AvalonBay Communities in a report on Friday, February 2nd. KeyCorp restated a “sector weight” rating on shares of AvalonBay Communities in a report on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $196.78.

Insiders Place Their Bets

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

AvalonBay Communities 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.