Great Lakes Retirement Inc. Has $914,000 Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Great Lakes Retirement Inc. raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,883 shares of the real estate investment trust’s stock after acquiring an additional 182 shares during the quarter. Great Lakes Retirement Inc.’s holdings in AvalonBay Communities were worth $914,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AVB. Pinnacle Bancorp Inc. bought a new position in shares of AvalonBay Communities in the third quarter valued at approximately $26,000. Quarry LP increased its stake in AvalonBay Communities by 255.6% in the 2nd quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 138 shares during the period. Castleview Partners LLC grew its holdings in shares of AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 216 shares during the last quarter. Ronald Blue Trust Inc. raised its stake in shares of AvalonBay Communities by 316.7% during the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 171 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in AvalonBay Communities by 53.7% in the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 109 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the sale, the chief financial officer now owns 31,308 shares in the company, valued at $5,812,330.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares in the company, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Up 1.1 %

Shares of AVB stock traded up $2.01 during trading on Thursday, reaching $185.70. The company’s stock had a trading volume of 407,389 shares, compared to its average volume of 829,027. The company has a market capitalization of $26.37 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 3.36 and a beta of 0.92. AvalonBay Communities, Inc. has a 1-year low of $159.57 and a 1-year high of $198.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s 50-day moving average price is $178.87 and its 200 day moving average price is $177.31.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The company had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. During the same period in the prior year, the company posted $2.59 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 10.81 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio is currently 100.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVB. Mizuho lowered their target price on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Evercore ISI boosted their price target on AvalonBay Communities from $183.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $185.00 price target on shares of AvalonBay Communities in a research note on Friday, February 2nd. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $191.50 in a report on Monday, February 26th. Finally, Barclays raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $194.00 to $204.00 in a research note on Tuesday, February 20th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $197.03.

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.