366 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 366 shares of the real estate investment trust’s stock, valued at approximately $68,000.

Other hedge funds have also recently made changes to their positions in the company. Arlington Trust Co LLC acquired a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $45,000. Bear Mountain Capital Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter valued at $66,000. Gold Investment Management Ltd. acquired a new position in shares of AvalonBay Communities during the fourth quarter worth $71,000. Blue Trust Inc. grew 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 worth $92,000 after purchasing an additional 314 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its stake in shares of AvalonBay Communities by 200.0% in the fourth quarter. PFG Private Wealth Management LLC now owns 555 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 370 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler lifted their target price on AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Argus upped their target price on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho raised their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their price target on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group increased their price objective on shares of AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $206.89.

AvalonBay Communities Trading Up 0.3 %

Shares of AvalonBay Communities stock opened at $206.89 on Monday. The stock has a market capitalization of $29.42 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.02 and a beta of 0.93. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $208.45. The stock has a 50 day moving average price of $196.75 and a two-hundred day moving average price of $186.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same period in the previous year, the business posted $2.57 EPS. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 28th. AvalonBay Communities’s payout ratio is presently 101.19%.

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.