Advisors Asset Management Inc. Has $347,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

Advisors Asset Management Inc. cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 33.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,541 shares of the real estate investment trust’s stock after selling 776 shares during the quarter. Advisors Asset Management Inc.’s holdings in AvalonBay Communities were worth $347,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities during the second quarter worth $32,000. Versant Capital Management Inc raised its position in AvalonBay Communities by 1,877.8% during the 2nd 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 during the last quarter. Mather Group LLC. lifted 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 buying an additional 56 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $51,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares during the period. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial upped their target price on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Piper Sandler lifted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and an average price target of $226.88.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction on Wednesday, November 13th. The stock was 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 in the company, valued at $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Stock Up 1.0 %

AVB stock opened at $237.81 on Friday. The firm has a market capitalization of $33.83 billion, a PE ratio of 32.53, a P/E/G ratio of 3.40 and a beta of 0.97. 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 twelve month low of $169.37 and a twelve month high of $239.29. The stock’s 50 day moving average is $226.74 and its 200-day moving average is $214.87.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million during 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 quarter last year, the business posted $2.66 EPS. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.86%. AvalonBay Communities’s payout ratio is currently 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.