Thompson Siegel & Walmsley LLC Lowers Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Thompson Siegel & Walmsley LLC cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 69.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,500 shares of the real estate investment trust’s stock after selling 33,200 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in AvalonBay Communities were worth $3,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities during the second quarter worth approximately $32,000. Versant Capital Management Inc grew its stake in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares in the last quarter. Mather Group LLC. increased its holdings in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the period. BROOKFIELD Corp ON bought a new stake in AvalonBay Communities during the 1st quarter valued at $39,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth $51,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 0.6 %

AVB stock opened at $231.94 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $236.26. The stock has a market capitalization of $32.99 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97. The firm has a 50 day moving average of $226.36 and a 200 day moving average of $213.76.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period last year, the firm earned $2.66 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. BNP Paribas assumed coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price for the company. Finally, Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average target price of $226.88.

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.