Apexium Financial LP Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Apexium Financial LP purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 110,079 shares of the real estate investment trust's stock, valued at approximately $20,609,000. AvalonBay Communities makes up about 1.5% of Apexium Financial LP's holdings, making the stock its 13th biggest position. Apexium Financial LP owned approximately 0.08% of AvalonBay Communities at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Arlington Trust Co LLC bought a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $45,000. Bear Mountain Capital Inc. bought a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $66,000. Larson Financial Group LLC bought a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $80,000. Blue Trust Inc. boosted its stake in shares of AvalonBay Communities by 139.6% in the fourth quarter. Blue Trust Inc. now owns 539 shares of the real estate investment trust's stock valued at $92,000 after buying an additional 314 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of AvalonBay Communities by 29.6% in the third quarter. Allworth Financial LP now owns 565 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 129 shares during the period. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group boosted their price objective on shares of AvalonBay Communities from $199.00 to $210.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the company an "overweight" rating in a research report on Tuesday. Barclays boosted their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the company an "overweight" rating in a research report on Monday, April 29th. The Goldman Sachs Group restated a "neutral" rating and set a $191.00 price objective on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Finally, Piper Sandler boosted their price objective on shares of AvalonBay Communities from $207.00 to $230.00 and gave the company an "overweight" rating in a research report on Monday, April 29th. Eleven equities research 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.com, the stock currently has an average rating of "Hold" and an average target price of $202.83.

Insider Transactions at AvalonBay Communities

In related news, CFO Kevin P. O'shea sold 5,000 shares of AvalonBay Communities stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AvalonBay Communities news, CFO Kevin P. O'shea sold 5,000 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joanne M. Lockridge sold 1,750 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Stock Performance

AVB traded down $0.41 on Thursday, hitting $198.05. The company's stock had a trading volume of 461,684 shares, compared to its average volume of 779,804. The company's 50 day simple moving average is $186.87 and its 200-day simple moving average is $180.69. The firm has a market cap of $28.16 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $200.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The business had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. During the same period last year, the business posted $2.57 earnings per share. Analysts forecast that AvalonBay Communities, Inc. will post 10.87 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.43%. AvalonBay Communities's dividend payout ratio is currently 101.19%.

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.

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