Gulf International Bank UK Ltd Sells 532 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Gulf International Bank UK Ltd cut its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,221 shares of the real estate investment trust’s stock after selling 532 shares during the quarter. Gulf International Bank UK Ltd’s holdings in AvalonBay Communities were worth $2,527,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVB. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the second quarter worth $32,000. Versant Capital Management Inc boosted its holdings in AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON bought a new stake in AvalonBay Communities in the 1st quarter valued at about $39,000. Mather Group LLC. increased its holdings in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVB has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Evercore ISI raised their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Scotiabank increased their price objective on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Finally, UBS Group boosted their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $227.06.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $224.93 on Thursday. The stock’s 50-day moving average is $225.66 and its 200-day moving average is $210.60. AvalonBay Communities, Inc. has a 1-year low of $164.76 and a 1-year high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a market cap of $31.99 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 7.16% and a net margin of 29.61%. During the same period in the previous year, the firm earned $2.66 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is presently 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.