Mutual of America Capital Management LLC Has $3.94 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Mutual of America Capital Management LLC cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 17,490 shares of the real estate investment trust’s stock after selling 417 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AvalonBay Communities were worth $3,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Segment Wealth Management LLC boosted its holdings in AvalonBay Communities by 4.6% during the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in AvalonBay Communities by 2.7% during the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after purchasing an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 50 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in AvalonBay Communities by 2.7% during the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in AvalonBay Communities by 4.6% during the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 55 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI lifted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Piper Sandler lifted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $226.88.

AvalonBay Communities Stock Performance

AVB stock opened at $231.18 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a 50 day moving average price of $226.41 and a 200 day moving average price of $213.51. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $236.26. The stock has a market capitalization of $32.88 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the firm posted $2.66 EPS. Analysts forecast that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Insider Activity

In related news, Director Timothy J. Naughton sold 2,261 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by company insiders.

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.