AvalonBay Communities, Inc. (NYSE:AVB) Stake Cut by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 17.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,139 shares of the real estate investment trust’s stock after selling 1,265 shares during the period. Crossmark Global Holdings Inc.’s holdings in AvalonBay Communities were worth $1,382,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Segment Wealth Management LLC boosted its holdings in shares of 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 worth $231,000 after purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC increased its stake in AvalonBay Communities by 2.7% in the 2nd 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 during the period. Patrick M Sweeney & Associates Inc. lifted its position in AvalonBay Communities by 4.1% in 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 buying an additional 50 shares in the last quarter. Tectonic Advisors LLC boosted its stake 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 valued at $436,000 after buying an additional 50 shares during the period. Finally, Mather Group LLC. grew its holdings in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AVB shares. Royal Bank of Canada cut their price objective 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. Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. UBS Group boosted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI raised their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $227.06.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction dated 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 sale, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at $20,367,689.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Up 1.3 %

AVB stock opened at $233.11 on Thursday. The stock has a market capitalization of $33.15 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 3.36 and a beta of 0.97. The company has a 50-day moving average of $226.11 and a two-hundred day moving average of $211.90. AvalonBay Communities, Inc. has a 52-week low of $166.60 and a 52-week high of $236.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.03 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $2.66 EPS. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

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.