AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,367 shares of the real estate investment trust’s stock after selling 6,683 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of AvalonBay Communities worth $20,353,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter valued at $32,000. Versant Capital Management Inc grew its stake in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities during the 1st quarter worth approximately $39,000. Mather Group LLC. increased its position in AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in AvalonBay Communities by 38.8% in the second 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 during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their target price 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. Truist Financial upped their target price 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. Scotiabank raised their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Piper Sandler boosted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, BNP Paribas started coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $225.88.

Insiders Place Their Bets

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

AvalonBay Communities Trading Down 1.5 %

NYSE:AVB opened at $226.35 on Friday. AvalonBay Communities, Inc. has a 52-week low of $160.45 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 0.71. The stock has a fifty day simple moving average of $224.90 and a 200-day simple moving average of $208.30. The company has a market capitalization of $32.18 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last announced 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). The business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

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.