Empowered Funds LLC Has $526,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

Empowered Funds LLC increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,337 shares of the real estate investment trust’s stock after acquiring an additional 218 shares during the quarter. Empowered Funds LLC’s holdings in AvalonBay Communities were worth $526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Segment Wealth Management LLC boosted its holdings in AvalonBay Communities by 4.6% in 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 acquiring an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its stake in 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 valued at $386,000 after buying an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in AvalonBay Communities by 4.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 50 shares in the last quarter. Tectonic Advisors LLC boosted its position in AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 50 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in AvalonBay Communities by 4.6% in 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 currently owned by institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. BNP Paribas started coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price on the stock. Scotiabank cut their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Truist Financial boosted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Piper Sandler increased their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $226.88.

AvalonBay Communities Price Performance

NYSE:AVB opened at $231.94 on Monday. The firm has a market capitalization of $32.99 billion, a price-to-earnings ratio of 31.73, a P/E/G ratio of 3.37 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a fifty day moving average of $226.36 and a 200 day moving average of $214.02. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $236.26.

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 firm 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 in the prior year, the business posted $2.66 earnings per share. On average, research analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

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

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.