Arlington Trust Co LLC Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 239 shares of the real estate investment trust’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of AvalonBay Communities by 0.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,096 shares of the real estate investment trust’s stock valued at $8,068,000 after acquiring an additional 304 shares during the period. LDR Capital Management LLC increased its position in shares of AvalonBay Communities by 63.9% in the 4th quarter. LDR Capital Management LLC now owns 9,504 shares of the real estate investment trust’s stock valued at $1,779,000 after acquiring an additional 3,706 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $308,000. Boston Trust Walden Corp increased its position in shares of AvalonBay Communities by 13.3% in the 4th quarter. Boston Trust Walden Corp now owns 79,349 shares of the real estate investment trust’s stock valued at $14,856,000 after acquiring an additional 9,330 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of AvalonBay Communities by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 302,150 shares of the real estate investment trust’s stock valued at $57,288,000 after acquiring an additional 4,982 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Transactions at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares in the company, valued at approximately $4,054,985.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $175.00 to $191.50 in a research report on Monday, February 26th. Truist Financial cut their target price on AvalonBay Communities from $203.00 to $201.00 and set a “hold” rating on the stock in a research report on Thursday, March 14th. KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Piper Sandler reaffirmed an “overweight” rating and set a $207.00 price target on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $197.03.

AvalonBay Communities Trading Up 0.5 %

Shares of AvalonBay Communities stock opened at $181.08 on Monday. The firm has a market capitalization of $25.75 billion, a PE ratio of 27.65, a P/E/G ratio of 3.36 and a beta of 0.92. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $198.65. The firm’s 50-day moving average price is $179.48 and its 200 day moving average price is $177.34. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The company had revenue of $704.71 million during the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period in the prior year, the business posted $2.59 earnings per share. On average, sell-side analysts predict that AvalonBay Communities, Inc. will post 10.82 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $1.70 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Wednesday, March 27th. AvalonBay Communities’s payout ratio is currently 103.82%.

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.