AvalonBay Communities, Inc. (NYSE:AVB) Stock Holdings Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,490 shares of the real estate investment trust’s stock after selling 417 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AvalonBay Communities were worth $3,940,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Natixis Advisors LLC boosted its stake in shares of AvalonBay Communities by 4.8% during the 3rd quarter. Natixis Advisors LLC now owns 65,704 shares of the real estate investment trust’s stock worth $14,800,000 after acquiring an additional 2,985 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of AvalonBay Communities by 10.3% during the 3rd quarter. Empowered Funds LLC now owns 2,337 shares of the real estate investment trust’s stock worth $526,000 after acquiring an additional 218 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of AvalonBay Communities by 8.4% during the 3rd quarter. CIBC Asset Management Inc now owns 21,666 shares of the real estate investment trust’s stock worth $4,880,000 after acquiring an additional 1,679 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of AvalonBay Communities by 4.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 55 shares in the last quarter. Finally, Nicola Wealth Management LTD. boosted its stake in shares of AvalonBay Communities by 10.5% during the 3rd quarter. Nicola Wealth Management LTD. now owns 9,450 shares of the real estate investment trust’s stock worth $2,129,000 after acquiring an additional 900 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVB. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Piper Sandler increased their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada reduced their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company increased their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $226.88.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Price Performance

NYSE AVB opened at $231.18 on Friday. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $236.26. The stock’s 50-day moving average is $226.41 and its two-hundred day moving average is $213.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market cap of $32.88 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same quarter last year, the business earned $2.66 earnings per share. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.94%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

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.