AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 9.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,105 shares of the real estate investment trust’s stock after selling 964 shares during the period. Naviter Wealth LLC’s holdings in AvalonBay Communities were worth $2,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. &PARTNERS acquired a new position in shares of AvalonBay Communities during the 2nd quarter valued at $1,538,000. Sheets Smith Wealth Management bought a new stake in AvalonBay Communities in the first quarter worth about $768,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of AvalonBay Communities by 14.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock valued at $6,115,000 after purchasing an additional 4,138 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of AvalonBay Communities by 86.7% in the 1st quarter. BNP Paribas Financial Markets now owns 234,743 shares of the real estate investment trust’s stock worth $43,559,000 after purchasing an additional 109,028 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of AvalonBay Communities in the 1st quarter worth approximately $4,532,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of a number of research reports. Piper Sandler lifted their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their target price on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. UBS Group upped their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Truist Financial boosted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, BNP Paribas began coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. 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 company presently has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded down $0.97 during trading hours on Thursday, reaching $224.72. The stock had a trading volume of 3,748 shares, compared to its average volume of 726,723. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The business’s fifty day moving average is $222.83 and its two-hundred day moving average is $206.13. The company has a market cap of $31.95 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 3.33 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last issued its 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 return on equity of 7.16% and a net margin of 29.61%. 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 previous year, the company posted $2.66 earnings per share. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.03%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

AvalonBay Communities 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.