Holocene Advisors LP Purchases Shares of 16,650 AvalonBay Communities, Inc. (NYSE:AVB)

Holocene Advisors LP acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,650 shares of the real estate investment trust’s stock, valued at approximately $3,750,000.

Several other large investors have also recently modified their holdings of AVB. &PARTNERS purchased a new stake in AvalonBay Communities in the second quarter valued at about $1,538,000. American Assets Capital Advisers LLC acquired a new position in shares of AvalonBay Communities during the third quarter valued at about $1,014,000. Diversified Trust Co acquired a new stake in AvalonBay Communities in the 2nd quarter worth approximately $1,139,000. Cetera Investment Advisers boosted its stake in AvalonBay Communities by 153.3% in the 1st quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock worth $3,259,000 after purchasing an additional 10,629 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in AvalonBay Communities by 5.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 63,174 shares of the real estate investment trust’s stock worth $13,070,000 after purchasing an additional 3,350 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Activity

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated 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 sale, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $226.40 on Friday. The company has a market capitalization of $32.20 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company’s fifty day moving average price is $226.73 and its 200 day moving average price is $215.97. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted 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 return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same period in the previous year, the company earned $2.66 earnings per share. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s payout ratio is currently 93.02%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVB shares. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. JPMorgan Chase & Co. boosted their price target on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Royal Bank of Canada reduced their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $228.67.

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.