AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 26.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,207 shares of the real estate investment trust’s stock after selling 25,801 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in AvalonBay Communities were worth $15,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVB. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc increased its stake in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares during the last quarter. Mather Group LLC. raised its holdings 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 worth $45,000 after purchasing an additional 56 shares during the period. Prospera Private Wealth LLC bought a new position in shares of AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Evercore ISI upped their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Piper Sandler raised their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Eleven 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, the company has a consensus rating of “Hold” and an average target price of $226.88.

AvalonBay Communities Stock Up 0.4 %

AVB opened at $232.94 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $33.13 billion, a PE ratio of 31.87, a P/E/G ratio of 3.39 and a beta of 0.97. The stock’s fifty day moving average is $226.36 and its 200-day moving average is $214.27. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter last year, the firm posted $2.66 earnings per share. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.92%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Insider Buying and Selling at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the transaction, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.

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.