1,039 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Purchased by Wedmont Private Capital

Wedmont Private Capital bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,039 shares of the real estate investment trust’s stock, valued at approximately $227,000.

Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its holdings in shares of AvalonBay Communities by 487.8% in the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after acquiring an additional 298,322 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in AvalonBay Communities by 14.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after purchasing an additional 249,400 shares in the last quarter. SG Americas Securities LLC increased its position in shares of AvalonBay Communities by 4,563.7% during the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after purchasing an additional 208,240 shares during the period. Artemis Investment Management LLP bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth $29,256,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of AvalonBay Communities in the second quarter valued at $26,755,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The trade was 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 the SEC website. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Keri A. Shea sold 2,000 shares of the business’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 completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Piper Sandler increased their target price 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. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Truist Financial increased their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, BNP Paribas began coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $225.88.

AvalonBay Communities Stock Performance

AVB stock opened at $219.62 on Monday. The firm has a 50 day simple moving average of $221.83 and a 200 day simple moving average of $205.47. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. The stock has a market cap of $31.23 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last posted 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 net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the prior year, the firm earned $2.66 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued 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 3.10%. AvalonBay Communities’s dividend payout ratio is 101.19%.

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.