Wealth Alliance Buys 88 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Wealth Alliance increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,595 shares of the real estate investment trust’s stock after purchasing an additional 88 shares during the quarter. Wealth Alliance’s holdings in AvalonBay Communities were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVB. Pinnacle Bancorp Inc. bought a new position in AvalonBay Communities in the 3rd quarter worth $26,000. Quarry LP raised its holdings in AvalonBay Communities by 255.6% during the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 138 shares during the period. Castleview Partners LLC raised its holdings in AvalonBay Communities by 1,542.9% during the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 216 shares during the period. Ronald Blue Trust Inc. raised its holdings in AvalonBay Communities by 316.7% during the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 171 shares during the period. Finally, Arlington Trust Co LLC bought a new stake in AvalonBay Communities during the fourth quarter valued at about $45,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Up 0.6 %

AVB opened at $182.05 on Friday. The firm has a market cap of $25.88 billion, a P/E ratio of 27.79, a P/E/G ratio of 3.33 and a beta of 0.92. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average of $180.96 and a 200 day moving average of $177.85.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing the consensus estimate 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 return on equity of 7.98% and a net margin of 33.56%. During the same quarter in the prior year, the business posted $2.59 EPS. As a group, research analysts forecast that AvalonBay Communities, Inc. will post 10.8 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $1.70 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 annualized dividend and a yield of 3.74%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.82%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities 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 completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AvalonBay Communities 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 completion of the transaction, the chief financial officer now owns 31,308 shares in the company, valued at $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the business’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 transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

AVB has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $185.00 price target on shares of AvalonBay Communities in a report on Friday, February 2nd. Barclays raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $194.00 to $204.00 in a report on Tuesday, February 20th. The Goldman Sachs Group reissued a “neutral” rating and set a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, February 22nd. Piper Sandler reissued an “overweight” rating and set a $207.00 price target on shares of AvalonBay Communities in a report on Tuesday, March 26th. Finally, Mizuho decreased their price target on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.78.

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.