OneAscent Wealth Management LLC Buys 441 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

OneAscent Wealth Management LLC raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 34.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,733 shares of the real estate investment trust’s stock after purchasing an additional 441 shares during the quarter. OneAscent Wealth Management LLC’s holdings in AvalonBay Communities were worth $393,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVB. &PARTNERS purchased a new stake in shares of AvalonBay Communities during the second quarter worth about $1,538,000. Swedbank AB purchased a new stake in AvalonBay Communities during the 1st quarter valued at approximately $4,532,000. Diversified Trust Co bought a new stake in shares of AvalonBay Communities during the second quarter valued at approximately $1,139,000. American Assets Capital Advisers LLC purchased a new position in shares of AvalonBay Communities in the third quarter worth $1,014,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of AvalonBay Communities by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock worth $18,338,000 after acquiring an additional 9,125 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.1 %

Shares of NYSE AVB opened at $229.22 on Tuesday. AvalonBay Communities, Inc. has a 52-week low of $166.60 and a 52-week high of $236.26. The firm has a market capitalization of $32.60 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 3.35 and a beta of 0.97. The stock has a 50 day moving average price of $226.45 and a 200 day moving average price of $213.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.03 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm 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 company posted $2.66 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AVB shares. Truist Financial lifted their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Piper Sandler raised their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company raised 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, Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $226.88.

Insider Activity

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Company 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.