AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Cut by Blair William & Co. IL

Blair William & Co. IL trimmed its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,979 shares of the real estate investment trust’s stock after selling 779 shares during the quarter. Blair William & Co. IL’s holdings in AvalonBay Communities were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities during the second quarter valued at about $32,000. Versant Capital Management Inc boosted its position in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in shares of AvalonBay Communities in the 1st quarter worth approximately $39,000. Pinnacle Bancorp Inc. raised its holdings in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $233.17 on Tuesday. 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 $33.15 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The business has a 50-day moving average of $217.61 and a 200-day moving average of $201.64.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share 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 company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period last year, the firm earned $2.66 EPS. As a group, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 2.92%. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. UBS Group boosted their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Piper Sandler raised their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Finally, Truist Financial raised their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $223.12.

Insider Activity

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on 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 completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on 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 completion of the sale, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.