AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Wealth Alliance

Wealth Alliance decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,507 shares of the real estate investment trust’s stock after selling 166 shares during the period. Wealth Alliance’s holdings in AvalonBay Communities were worth $259,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. acquired a new position in shares of AvalonBay Communities during the third quarter valued at $26,000. Quarry LP raised its holdings in AvalonBay Communities by 255.6% during the 2nd quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 138 shares during the period. Castleview Partners LLC raised its holdings in AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 216 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in AvalonBay Communities by 42.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 222 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 66 shares during the period. Finally, Ronald Blue Trust Inc. increased its holdings in shares of AvalonBay Communities by 316.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 171 shares during the period. Institutional investors own 88.71% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $174.63 on Monday. The business’s 50-day simple moving average is $181.20 and its 200 day simple moving average is $177.94. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 3.24 and a beta of 0.93. AvalonBay Communities, Inc. has a 12-month low of $153.07 and a 12-month high of $198.65. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The company had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. During the same quarter last year, the business posted $2.59 EPS. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $1.70 dividend. The ex-dividend date is Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.89%. AvalonBay Communities’s payout ratio is currently 100.76%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AVB shares. Piper Sandler upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $197.00 to $194.00 in a report on Tuesday, October 31st. Truist Financial cut AvalonBay Communities from a “buy” rating to a “hold” rating and increased their price objective for the company from $202.00 to $203.00 in a research report on Tuesday, January 16th. Mizuho upped their target price on AvalonBay Communities from $176.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $185.00 target price on shares of AvalonBay Communities in a research note on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a research note on Tuesday, January 30th. They set a “buy” rating and a $206.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $196.06.

Check Out Our Latest Stock Analysis on AvalonBay Communities

AvalonBay Communities Company Profile

(Free Report)

As of September 30, 2023, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 89,240 apartment homes in 12 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. 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.

Further Reading

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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