Short Interest in AvalonBay Communities, Inc. (NYSE:AVB) Grows By 5.9%

AvalonBay Communities, Inc. (NYSE:AVB) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,860,000 shares, a growth of 5.9% from the November 30th total of 2,700,000 shares. Based on an average daily trading volume, of 655,200 shares, the short-interest ratio is presently 4.4 days.

AvalonBay Communities Stock Down 1.3 %

AvalonBay Communities stock opened at $217.07 on Friday. The business’s 50-day simple moving average is $226.75 and its two-hundred day simple moving average is $219.71. 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 has a market cap of $30.88 billion, a PE ratio of 29.69, a PEG ratio of 3.30 and a beta of 0.98. AvalonBay Communities has a fifty-two week low of $169.37 and a fifty-two week 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 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the prior year, the company earned $2.66 EPS. Equities analysts anticipate that AvalonBay Communities will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the company’s 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 transaction, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in shares of AvalonBay Communities by 6.4% in the second quarter. Commonwealth Equity Services LLC now owns 19,566 shares of the real estate investment trust’s stock worth $4,048,000 after acquiring an additional 1,182 shares during the period. Natixis Advisors LLC boosted its position in AvalonBay Communities by 0.4% during the second quarter. Natixis Advisors LLC now owns 62,719 shares of the real estate investment trust’s stock worth $12,976,000 after purchasing an additional 279 shares in the last quarter. Capital Square LLC boosted its position in AvalonBay Communities by 72.5% during the second quarter. Capital Square LLC now owns 2,417 shares of the real estate investment trust’s stock worth $506,000 after purchasing an additional 1,016 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in AvalonBay Communities in the second quarter valued at approximately $319,000. Finally, Naviter Wealth LLC increased its position in shares of AvalonBay Communities by 3.7% in the second quarter. Naviter Wealth LLC now owns 10,069 shares of the real estate investment trust’s stock valued at $2,100,000 after buying an additional 356 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVB shares. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Scotiabank reduced their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Evercore ISI increased their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada reduced their price objective on shares of 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. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $231.33.

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.