Lake Street Advisors Group LLC Makes New $209,000 Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Lake Street Advisors Group LLC purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 921 shares of the real estate investment trust’s stock, valued at approximately $209,000.

A number of other hedge funds have also recently made changes to their positions in AVB. Segment Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in 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 worth $386,000 after acquiring an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in shares of AvalonBay Communities by 4.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 50 shares during the period. Tectonic Advisors LLC increased its position in shares of AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 50 shares during the period. Finally, Mather Group LLC. raised its stake in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Activity

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 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 in the company, valued at approximately $908,026.11. This trade represents 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. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’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 sale, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $226.35 on Monday. The stock 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 debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $236.26. The firm’s 50-day moving average is $224.90 and its 200 day moving average is $208.45.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the previous year, the company earned $2.66 EPS. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Scotiabank raised their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Evercore ISI boosted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, UBS Group raised their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target 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.