Savvy Advisors Inc. Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Savvy Advisors Inc. increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 17.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,718 shares of the real estate investment trust’s stock after purchasing an additional 707 shares during the quarter. Savvy Advisors Inc.’s holdings in AvalonBay Communities were worth $1,063,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc increased its position in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities during the 1st quarter worth $39,000. Finally, Massmutual Trust Co. FSB ADV increased its position in AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $232.21 on Tuesday. The company has a market cap of $33.02 billion, a P/E ratio of 31.77, a PEG ratio of 3.55 and a beta of 0.97. The company has a 50-day moving average price of $226.05 and a 200 day moving average price of $211.63. AvalonBay Communities, Inc. has a 52 week low of $164.76 and a 52 week high of $236.26. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. During the same quarter in the prior year, the business earned $2.66 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.93%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVB shares. Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. UBS Group upped their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $227.06.

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.