Great Lakes Retirement Inc. Buys 94 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Great Lakes Retirement Inc. increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,181 shares of the real estate investment trust’s stock after purchasing an additional 94 shares during the period. Great Lakes Retirement Inc.’s holdings in AvalonBay Communities were worth $1,392,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Segment Wealth Management LLC increased its position in shares of AvalonBay Communities by 4.6% in the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC increased its holdings in shares of AvalonBay Communities by 2.7% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 49 shares in the last quarter. Mather Group LLC. increased its holdings in shares of AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 56 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of AvalonBay Communities by 4.6% during the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 59 shares during the period. Finally, Mechanics Bank Trust Department lifted its holdings in shares of AvalonBay Communities by 0.3% during the 2nd quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 2.1 %

Shares of NYSE:AVB opened at $229.54 on Thursday. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26. The company has a market capitalization of $32.64 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company has a 50-day simple moving average of $224.38 and a 200 day simple moving average of $207.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The company had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same period last year, the firm earned $2.66 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVB. 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 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Piper Sandler increased their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, Truist Financial increased 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. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $225.88.

Insider Buying and Selling at AvalonBay Communities

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

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.