AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,752 shares of the real estate investment trust’s stock after selling 319 shares during the quarter. Park Avenue Securities LLC’s holdings in AvalonBay Communities were worth $620,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVB. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter worth approximately $32,000. Versant Capital Management Inc grew its position in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the first quarter worth approximately $39,000. Pinnacle Bancorp Inc. boosted its stake in 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 during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in 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 during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Piper Sandler raised their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. UBS Group raised their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Scotiabank raised their price objective on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Finally, BNP Paribas assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $225.88.

AvalonBay Communities Stock Down 0.7 %

AVB stock opened at $216.94 on Friday. 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 1 year low of $160.45 and a 1 year high of $236.26. The company has a fifty day simple moving average of $221.56 and a 200 day simple moving average of $204.80. The firm has a market cap of $30.85 billion, a PE ratio of 32.28, a PEG ratio of 3.55 and a beta of 0.97.

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

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.13%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Insider Buying and Selling

In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s 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 completion of the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the company’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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

About AvalonBay Communities

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.