JLP Asset Management LLC Makes New $3.30 Million Investment in AvalonBay Communities, Inc. (NYSE:AVB)

JLP Asset Management LLC purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,600 shares of the real estate investment trust's stock, valued at approximately $3,295,000. AvalonBay Communities accounts for about 3.9% of JLP Asset Management LLC's portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC boosted its holdings in AvalonBay Communities by 8.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,485 shares of the real estate investment trust's stock valued at $369,000 after purchasing an additional 113 shares in the last quarter. Private Advisor Group LLC boosted its holdings in AvalonBay Communities by 18.0% in the 1st quarter. Private Advisor Group LLC now owns 2,007 shares of the real estate investment trust's stock valued at $499,000 after purchasing an additional 306 shares in the last quarter. Prudential PLC purchased a new stake in shares of AvalonBay Communities during the 1st quarter worth approximately $704,000. Cetera Investment Advisers boosted its stake in shares of AvalonBay Communities by 54.4% during the 1st quarter. Cetera Investment Advisers now owns 5,260 shares of the real estate investment trust's stock worth $1,306,000 after acquiring an additional 1,853 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of AvalonBay Communities by 7.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 12,461 shares of the real estate investment trust's stock worth $3,095,000 after acquiring an additional 901 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Up 2.8 %

AvalonBay Communities stock traded up $5.06 during trading on Monday, reaching $186.14. 635,506 shares of the company's stock were exchanged, compared to its average volume of 805,422. The company's 50-day moving average is $179.64 and its two-hundred day moving average is $177.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $198.65. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.36 and a beta of 0.92.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The business had revenue of $704.71 million for the quarter, compared to analysts' expectations of $701.67 million. During the same period last year, the company posted $2.59 earnings per share. On average, analysts predict that AvalonBay Communities, Inc. will post 10.82 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.65%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.65. The ex-dividend date is Wednesday, March 27th. AvalonBay Communities's dividend payout ratio is 103.82%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company's stock, valued at approximately $4,054,985.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company's stock, valued at approximately $4,054,985.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin P. O'shea sold 5,000 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares of the company's stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AVB. The Goldman Sachs Group reissued a "neutral" rating and set a $191.00 price target on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Morgan Stanley upgraded AvalonBay Communities from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $175.00 to $191.50 in a report on Monday, February 26th. Barclays upgraded AvalonBay Communities from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $194.00 to $204.00 in a report on Tuesday, February 20th. Piper Sandler reiterated an "overweight" rating and issued a $207.00 price target on shares of AvalonBay Communities in a report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a report on Tuesday, January 30th. They issued a "buy" rating and a $206.00 price target for the company. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $197.03.

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.