AvalonBay Communities, Inc. (NYSE:AVB) Stake Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 26.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,207 shares of the real estate investment trust’s stock after selling 25,801 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in AvalonBay Communities were worth $15,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AVB. Segment Wealth Management LLC lifted its holdings in AvalonBay Communities by 4.6% in the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of 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 purchasing an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. lifted its stake in shares of AvalonBay Communities by 4.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 50 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of 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 buying an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 55 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada cut their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $226.88.

AvalonBay Communities Price Performance

NYSE:AVB opened at $232.94 on Tuesday. 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 company has a 50-day moving average of $226.36 and a 200-day moving average of $214.27. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $236.26. The company has a market capitalization of $33.13 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 3.39 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period last year, the company earned $2.66 EPS. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share 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 paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.92%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company’s 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 directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

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.