Aew Capital Management L P Has $144.12 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Aew Capital Management L P lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 769,788 shares of the real estate investment trust’s stock after selling 22,114 shares during the quarter. AvalonBay Communities makes up about 5.3% of Aew Capital Management L P’s investment portfolio, making the stock its 3rd largest position. Aew Capital Management L P owned approximately 0.54% of AvalonBay Communities worth $144,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVB. Castleview Partners LLC increased its holdings in AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 216 shares during the last quarter. Arlington Trust Co LLC bought a new stake in AvalonBay Communities in the fourth quarter valued at about $45,000. Lindbrook Capital LLC increased its holdings in AvalonBay Communities by 53.7% in the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 109 shares during the last quarter. Sandy Spring Bank increased its holdings in AvalonBay Communities by 4,428.6% in the third quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 310 shares during the last quarter. Finally, Bear Mountain Capital Inc. bought a new stake in AvalonBay Communities in the fourth quarter valued at about $66,000. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVB shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a report on Friday, February 2nd. Truist Financial lowered their price target on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Piper Sandler restated an “overweight” rating and issued a $207.00 price target on shares of AvalonBay Communities in a report on Tuesday, March 26th. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $191.50 in a report on Monday, February 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, February 22nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $196.78.

Insider Transactions at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Stock Performance

NYSE:AVB traded up $0.13 on Friday, hitting $191.45. The company’s stock had a trading volume of 945,647 shares, compared to its average volume of 816,357. 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 stock has a fifty day moving average of $182.66 and a two-hundred day moving average of $178.64. The firm has a market capitalization of $27.22 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 3.56 and a beta of 0.92. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $198.65.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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). The business had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter in the prior year, the company earned $2.59 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $1.70 per share. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.55%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio (DPR) is 103.82%.

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.