AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Evergreen Capital Management LLC

Evergreen Capital Management LLC raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 15.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,619 shares of the real estate investment trust’s stock after acquiring an additional 217 shares during the period. Evergreen Capital Management LLC’s holdings in AvalonBay Communities were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AVB. Orion Portfolio Solutions LLC increased its holdings in shares of AvalonBay Communities by 12.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,719 shares of the real estate investment trust’s stock worth $1,240,000 after buying an additional 744 shares during the last quarter. TD Asset Management Inc raised its position in AvalonBay Communities by 5.4% in the fourth quarter. TD Asset Management Inc now owns 46,726 shares of the real estate investment trust’s stock valued at $8,748,000 after purchasing an additional 2,400 shares during the period. Stifel Financial Corp lifted its stake in shares of AvalonBay Communities by 2.5% in the 4th quarter. Stifel Financial Corp now owns 61,991 shares of the real estate investment trust’s stock valued at $11,606,000 after purchasing an additional 1,537 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of AvalonBay Communities by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 64,659 shares of the real estate investment trust’s stock valued at $12,105,000 after purchasing an additional 610 shares during the last quarter. Finally, Evoke Wealth LLC purchased a new position in shares of AvalonBay Communities during the 4th quarter worth $3,162,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction that occurred 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 approximately $908,026.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’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 directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

AvalonBay Communities Stock Down 1.4 %

AVB stock opened at $226.53 on Friday. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The stock has a market cap of $32.22 billion, a P/E ratio of 33.71, a PEG ratio of 3.55 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $218.54 and its two-hundred day moving average is $202.13.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the previous year, the firm posted $2.66 earnings per share. Research analysts expect 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 will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Monday, September 30th. AvalonBay Communities’s payout ratio is currently 101.19%.

Analysts Set New Price Targets

AVB has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Truist Financial increased their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. BNP Paribas initiated coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Mizuho lifted their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $223.12.

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.