Ballentine Partners LLC Grows Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Ballentine Partners LLC lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,586 shares of the real estate investment trust’s stock after acquiring an additional 224 shares during the quarter. Ballentine Partners LLC’s holdings in AvalonBay Communities were worth $582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Segment Wealth Management LLC boosted its holdings in AvalonBay Communities by 4.6% in the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of AvalonBay Communities by 2.7% in 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 purchasing an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 50 shares in the last quarter. Tectonic Advisors LLC grew its position in AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after purchasing an additional 50 shares during the last quarter. Finally, Mather Group LLC. increased its stake in 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 purchasing an additional 56 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

AVB has been the subject of several research reports. Scotiabank lifted 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. UBS Group boosted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. 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 report on Friday, August 2nd. Finally, BNP Paribas initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $225.88.

Insider Buying and Selling

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s 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 sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred 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 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. 0.42% of the stock is owned by insiders.

AvalonBay Communities Stock Performance

AVB opened at $226.35 on Monday. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 3.33 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26. The firm’s fifty day simple moving average is $224.90 and its two-hundred day simple moving average is $208.45.

AvalonBay Communities (NYSE:AVB) last posted 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 firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the prior year, the firm posted $2.66 EPS. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.70 dividend. 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 (DPR) is currently 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.