AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,105 shares of the real estate investment trust’s stock after selling 964 shares during the quarter. Naviter Wealth LLC’s holdings in AvalonBay Communities were worth $2,066,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AVB. Walter Public Investments Inc. lifted its holdings in AvalonBay Communities by 45.5% in the third quarter. Walter Public Investments Inc. now owns 3,200 shares of the real estate investment trust’s stock valued at $721,000 after acquiring an additional 1,000 shares during the period. Presima Securities ULC lifted its stake in shares of AvalonBay Communities by 1.7% in the third quarter. Presima Securities ULC now owns 12,201 shares of the real estate investment trust’s stock valued at $2,748,000 after purchasing an additional 200 shares during the period. Stableford Capital II LLC purchased a new stake in AvalonBay Communities during the third quarter worth about $508,000. Swedbank AB grew its position in AvalonBay Communities by 46.6% during the third quarter. Swedbank AB now owns 34,791 shares of the real estate investment trust’s stock worth $7,837,000 after buying an additional 11,064 shares during the period. Finally, Creative Planning grew its position in AvalonBay Communities by 4.7% during the third quarter. Creative Planning now owns 9,004 shares of the real estate investment trust’s stock worth $2,028,000 after buying an additional 408 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Trading Down 0.4 %

Shares of NYSE AVB traded down $0.97 on Thursday, reaching $224.72. 3,748 shares of the company traded hands, compared to its average volume of 726,723. The company has a 50 day moving average of $222.83 and a 200 day moving average of $206.13. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $236.26. The stock has a market capitalization of $31.95 billion, a PE ratio of 33.58, a P/E/G ratio of 3.33 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same quarter last year, the firm posted $2.66 EPS. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is currently 101.19%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AVB shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Finally, Piper Sandler increased their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $225.88.

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.