AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 147.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 721 shares of the real estate investment trust’s stock after acquiring an additional 430 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in AvalonBay Communities were worth $162,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AVB. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $32,000. Versant Capital Management Inc lifted its stake in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of AvalonBay Communities by 38.6% in the third 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 during the period. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities during the first quarter worth approximately $39,000. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 2.1 %

Shares of NYSE AVB opened at $229.54 on Thursday. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. The firm has a 50-day moving average price of $224.38 and a 200 day moving average price of $207.73. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the previous year, the business posted $2.66 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. BNP Paribas assumed coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Royal Bank of Canada upped their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. UBS Group lifted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Piper Sandler upped their price target 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $225.88.

Insider Buying and Selling

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

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.