Tectonic Advisors LLC Raises Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Tectonic Advisors LLC lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,934 shares of the real estate investment trust’s stock after purchasing an additional 50 shares during the quarter. Tectonic Advisors LLC’s holdings in AvalonBay Communities were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new position in shares of AvalonBay Communities in the first quarter worth about $68,000. Wealth Enhancement Advisory Services LLC grew its holdings in AvalonBay Communities by 11.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,100 shares of the real estate investment trust’s stock valued at $1,318,000 after buying an additional 720 shares in the last quarter. Guidance Capital Inc. raised its position in shares of AvalonBay Communities by 8.8% during the first quarter. Guidance Capital Inc. now owns 3,512 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 283 shares during the last quarter. Founders Financial Securities LLC lifted its holdings in shares of AvalonBay Communities by 8.7% in the first quarter. Founders Financial Securities LLC now owns 6,227 shares of the real estate investment trust’s stock worth $1,155,000 after buying an additional 500 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of AvalonBay Communities during the first quarter worth $1,801,000. 92.61% of the stock is currently owned by institutional investors.

Insider Transactions 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 sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction 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 in the company, valued at $13,780,506.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company boosted their price target 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. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Scotiabank upped their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $226.33 on Friday. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26. The company’s 50-day moving average is $224.68 and its 200 day moving average is $207.88. The firm has a market capitalization of $32.18 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 3.33 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.

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

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 3.00%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

AvalonBay Communities Company 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.