Dai ichi Life Insurance Company Ltd Has $2.62 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Dai ichi Life Insurance Company Ltd lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 30.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 11,643 shares of the real estate investment trust’s stock after selling 5,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in AvalonBay Communities were worth $2,623,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVB. Segment Wealth Management LLC lifted its holdings in AvalonBay Communities by 4.6% in the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 45 shares during the period. SYSTM Wealth Solutions LLC lifted its stake in AvalonBay Communities by 2.7% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of AvalonBay Communities by 4.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 50 shares in the last quarter. Tectonic Advisors LLC grew its position in shares of AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in shares of AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVB shares. Piper Sandler upped their price objective 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. Evercore ISI increased their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada decreased their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $226.88.

AvalonBay Communities Trading Up 1.0 %

Shares of AVB stock opened at $237.74 on Thursday. 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 firm has a market cap of $33.82 billion, a P/E ratio of 32.52, a PEG ratio of 3.40 and a beta of 0.97. The company has a 50 day moving average of $226.60 and a 200-day 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 issued its 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the previous year, the firm earned $2.66 earnings per share. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

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.