Diversified Trust Co Sells 17,997 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Diversified Trust Co trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 95.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 939 shares of the real estate investment trust’s stock after selling 17,997 shares during the quarter. Diversified Trust Co’s holdings in AvalonBay Communities were worth $207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVB. RPg Family Wealth Advisory LLC bought a new position in shares of AvalonBay Communities during the 3rd quarter valued at approximately $26,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities during the 3rd quarter valued at approximately $39,000. Mather Group LLC. boosted its position in shares of AvalonBay Communities by 38.6% during the 3rd 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. Prospera Private Wealth LLC bought a new position in shares of AvalonBay Communities during the 3rd quarter valued at approximately $51,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of AvalonBay Communities by 368.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 453 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities 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 transaction, the director now owns 111,436 shares in the company, valued at $26,051,508.08. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by insiders.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $211.07 on Monday. The firm has a market cap of $30.02 billion, a P/E ratio of 28.87, a P/E/G ratio of 3.30 and a beta of 0.99. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The stock’s fifty day moving average price is $225.35 and its 200-day moving average price is $220.35.

AvalonBay Communities (NYSE:AVB) last announced 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). The firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the prior year, the business posted $2.66 EPS. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

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 paid a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 3.22%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVB shares. Royal Bank of Canada lowered their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Barclays started coverage on AvalonBay Communities in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $243.00 price target for the company. Finally, Scotiabank lowered their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.53.

AvalonBay Communities 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.