Sequoia Financial Advisors LLC Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Sequoia Financial Advisors LLC acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,802 shares of the real estate investment trust’s stock, valued at approximately $337,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in shares of AvalonBay Communities in the 3rd quarter worth about $26,000. Quarry LP lifted its position in shares of AvalonBay Communities by 255.6% in 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 last quarter. Castleview Partners LLC lifted its position in shares of AvalonBay Communities by 1,542.9% in 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 last quarter. Ronald Blue Trust Inc. lifted its position 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 worth $42,000 after buying an additional 171 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of AvalonBay Communities in the 4th quarter worth about $45,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVB. Piper Sandler restated an “overweight” rating and issued a $207.00 price target on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price target on the stock. Barclays upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $194.00 to $204.00 in a research report on Tuesday, February 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research report on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $196.78.

AvalonBay Communities Stock Up 0.6 %

AVB stock opened at $182.05 on Friday. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $198.65. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.33 and a beta of 0.92. The firm’s 50-day moving average is $180.96 and its two-hundred day moving average is $177.85. 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 announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same period in the prior year, the firm earned $2.59 EPS. On average, analysts forecast that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.70 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 annualized dividend and a dividend yield of 3.74%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s payout ratio is currently 103.82%.

Insider Transactions at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities 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 directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities 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 directly owns 31,308 shares in the company, valued at $5,812,330.20. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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.