Massmutual Trust Co. FSB ADV Raises Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Massmutual Trust Co. FSB ADV lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 38.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 261 shares of the real estate investment trust’s stock after acquiring an additional 73 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in AvalonBay Communities were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. Byrne Asset Management LLC raised its stake in AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 135 shares during the period. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities during the 1st quarter worth approximately $39,000. Pinnacle Bancorp Inc. raised its position in shares of AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares during the period. Sunbelt Securities Inc. acquired a new position in AvalonBay Communities in the first quarter valued at approximately $68,000. Finally, Bear Mountain Capital Inc. purchased a new position in AvalonBay Communities in the fourth quarter worth approximately $66,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AVB. JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Truist Financial upped their target price on shares of AvalonBay Communities from $207.00 to $213.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Morgan Stanley increased their target price on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Barclays boosted their price target on shares of AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Scotiabank increased their price objective on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $210.29.

AvalonBay Communities Trading Up 2.5 %

NYSE:AVB opened at $209.16 on Wednesday. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $218.79. The firm has a market cap of $29.74 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $202.87 and a 200 day moving average price of $190.77.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same period in the prior year, the business earned $2.66 EPS. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.25%. The ex-dividend date was Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

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.