Axxcess Wealth Management LLC Grows Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Axxcess Wealth Management LLC grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 39.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,998 shares of the real estate investment trust’s stock after acquiring an additional 853 shares during the period. Axxcess Wealth Management LLC’s holdings in AvalonBay Communities were worth $675,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Atria Investments Inc raised its stake in shares of AvalonBay Communities by 4.0% in the 3rd quarter. Atria Investments Inc now owns 15,487 shares of the real estate investment trust’s stock valued at $3,488,000 after acquiring an additional 602 shares during the period. Assetmark Inc. raised its stake in shares of AvalonBay Communities by 6.2% in the 3rd quarter. Assetmark Inc. now owns 16,308 shares of the real estate investment trust’s stock valued at $3,673,000 after acquiring an additional 956 shares during the period. Advisor Resource Council purchased a new stake in AvalonBay Communities during the 3rd quarter worth approximately $538,000. Graypoint LLC purchased a new stake in AvalonBay Communities during the 3rd quarter worth approximately $216,000. Finally, FSM Wealth Advisors LLC purchased a new stake in AvalonBay Communities during the 3rd quarter worth approximately $232,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Down 0.9 %

Shares of AvalonBay Communities stock opened at $230.19 on Wednesday. The company has a market capitalization of $32.74 billion, a P/E ratio of 31.49, a PEG ratio of 3.55 and a beta of 0.97. The company’s fifty day moving average is $226.05 and its two-hundred day moving average is $211.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities, Inc. has a 1 year low of $164.76 and a 1 year high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same quarter in the previous year, the business earned $2.66 EPS. Analysts forecast that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.95%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Analyst Ratings Changes

Several analysts have recently issued reports on AVB shares. Deutsche Bank Aktiengesellschaft increased their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. BNP Paribas initiated coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Scotiabank upped 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 note on Monday, September 16th. UBS Group lifted their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI increased their price objective 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. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $227.06.

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.