Wedge Capital Management L L P NC Trims Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Wedge Capital Management L L P NC lessened its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,240 shares of the real estate investment trust’s stock after selling 941 shares during the quarter. Wedge Capital Management L L P NC’s holdings in AvalonBay Communities were worth $955,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SYSTM Wealth Solutions LLC raised its position in shares of AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 49 shares during the period. Mather Group LLC. raised its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares during the period. Checchi Capital Advisers LLC raised its position in shares of AvalonBay Communities by 4.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 59 shares during the period. Mechanics Bank Trust Department raised its position in shares of AvalonBay Communities by 0.3% during the 2nd quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 60 shares during the period. Finally, SVB Wealth LLC raised its position in shares of AvalonBay Communities by 1.1% during the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company’s 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 completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company’s 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 completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s 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 owns 65,967 shares of the company’s stock, valued at $13,780,506.30. 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.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $225.67 on Thursday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $222.83 and a 200 day moving average price of $206.13. The company has a market cap of $32.09 billion, a P/E ratio of 33.58, a PEG ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the firm posted $2.66 EPS. 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.01%. AvalonBay Communities’s payout ratio is currently 101.19%.

Wall Street Analyst Weigh In

AVB has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. BNP Paribas initiated coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Truist Financial boosted their target price 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, UBS Group boosted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $225.88.

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.