BNP Paribas Financial Markets Purchases 91,861 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

BNP Paribas Financial Markets increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 54.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 259,531 shares of the real estate investment trust’s stock after buying an additional 91,861 shares during the period. BNP Paribas Financial Markets owned 0.18% of AvalonBay Communities worth $58,459,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of AvalonBay Communities by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after buying an additional 78,800 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AvalonBay Communities by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after buying an additional 13,631 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of AvalonBay Communities by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after buying an additional 126,055 shares during the period. American Century Companies Inc. boosted its holdings in shares of AvalonBay Communities by 6.2% during the 2nd quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock worth $95,570,000 after buying an additional 26,859 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of AvalonBay Communities by 0.4% during the 3rd quarter. Swiss National Bank now owns 422,021 shares of the real estate investment trust’s stock worth $95,060,000 after buying an additional 1,500 shares during the period. 92.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVB shares. Royal Bank of Canada reduced their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Truist Financial increased their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Evercore ISI increased their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Piper Sandler increased their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $226.88.

AvalonBay Communities Trading Up 1.0 %

Shares of AvalonBay Communities stock opened at $237.74 on Thursday. The stock has a market capitalization of $33.82 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $226.60 and a 200 day simple moving average of $214.71. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter last year, the business earned $2.66 EPS. Research analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal 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 given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

AvalonBay Communities Company 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.