RPg Family Wealth Advisory LLC Takes $26,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 116 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Other large investors have also added to or reduced their stakes in the company. Townsquare Capital LLC lifted its stake in AvalonBay Communities by 42.0% in the third quarter. Townsquare Capital LLC now owns 4,900 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 1,450 shares during the period. BNP Paribas Financial Markets increased its stake in shares of AvalonBay Communities by 54.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust’s stock valued at $58,459,000 after acquiring an additional 91,861 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at $39,000. The Manufacturers Life Insurance Company boosted its stake in AvalonBay Communities by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 112,392 shares of the real estate investment trust’s stock worth $25,316,000 after acquiring an additional 2,702 shares in the last quarter. Finally, Capital Square LLC grew its holdings in AvalonBay Communities by 26.9% in the third quarter. Capital Square LLC now owns 3,067 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Evercore ISI boosted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Truist Financial boosted their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $226.88.

Insider Transactions at AvalonBay Communities

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

AvalonBay Communities Stock Performance

NYSE:AVB opened at $237.74 on Thursday. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The business has a fifty day simple moving average of $226.60 and a two-hundred day simple moving average of $214.71. The company has a market capitalization of $33.82 billion, a P/E ratio of 32.52, a P/E/G ratio of 3.40 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same period last year, the company earned $2.66 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.86%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

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.