Lake Street Private Wealth LLC Purchases New Shares in AvalonBay Communities, Inc. (NYSE:AVB)

Lake Street Private Wealth LLC acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 903 shares of the real estate investment trust’s stock, valued at approximately $203,000.

A number of other large investors have also recently made changes to their positions in AVB. &PARTNERS purchased a new position in AvalonBay Communities in the second quarter worth about $1,538,000. Sheets Smith Wealth Management purchased a new position in shares of AvalonBay Communities in the 1st quarter worth approximately $768,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of AvalonBay Communities by 14.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock valued at $6,115,000 after purchasing an additional 4,138 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in AvalonBay Communities by 86.7% during the 1st quarter. BNP Paribas Financial Markets now owns 234,743 shares of the real estate investment trust’s stock valued at $43,559,000 after buying an additional 109,028 shares during the period. Finally, Swedbank AB purchased a new stake in AvalonBay Communities during the 1st quarter valued at $4,532,000. 92.61% of the stock is currently owned by institutional investors.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $414,340.00. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Trading Up 2.1 %

NYSE AVB opened at $229.54 on Thursday. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $236.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market capitalization of $32.64 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company’s 50-day simple moving average is $224.38 and its two-hundred day simple moving average is $207.73.

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

AvalonBay Communities Announces Dividend

The business also recently disclosed 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AVB shares. BNP Paribas began coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Piper Sandler increased their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. 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. Royal Bank of Canada upped their target price on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. 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 MarketBeat.com, the stock currently 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.