Swiss National Bank Has $95.06 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Swiss National Bank grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.4% during the third quarter, HoldingsChannel.com reports. The firm owned 422,021 shares of the real estate investment trust’s stock after acquiring an additional 1,500 shares during the quarter. Swiss National Bank’s holdings in AvalonBay Communities were worth $95,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AVB. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc boosted its position in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 169 shares in the last quarter. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities during the 1st quarter worth approximately $39,000. Mather Group LLC. boosted its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 56 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB stock opened at $229.22 on Tuesday. The company has a fifty day moving average price of $226.45 and a 200-day moving average price of $213.02. The company has a market capitalization of $32.60 billion, a P/E ratio of 31.36, a PEG ratio of 3.35 and a beta of 0.97. AvalonBay Communities, Inc. has a 52-week low of $166.60 and a 52-week high of $236.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.03 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the previous year, the business posted $2.66 EPS. As a group, equities analysts expect that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Analyst Ratings Changes

AVB has been the topic of several analyst reports. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Scotiabank reduced their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Piper Sandler increased their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Truist Financial increased their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $226.88.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by insiders.

About AvalonBay Communities

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.