AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Segment Wealth Management LLC

Segment Wealth Management LLC grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,025 shares of the real estate investment trust’s stock after purchasing an additional 45 shares during the quarter. Segment Wealth Management LLC’s holdings in AvalonBay Communities were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVB. SYSTM Wealth Solutions LLC lifted 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 in the last quarter. Mather Group LLC. boosted its stake in shares of AvalonBay Communities by 38.6% during 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 last quarter. Checchi Capital Advisers LLC raised its stake in AvalonBay Communities by 4.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 59 shares during the last quarter. Mechanics Bank Trust Department lifted its holdings in AvalonBay Communities by 0.3% in the 2nd quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after purchasing an additional 60 shares in the last quarter. Finally, SVB Wealth LLC boosted its stake in shares of AvalonBay Communities by 1.1% during the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock worth $1,026,000 after purchasing an additional 62 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lifted their price target on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Piper Sandler increased their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $225.88.

Insider Activity

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.42% 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 fifty day moving average price of $224.38 and a 200 day moving average price of $207.73. The company has a market cap of $32.64 billion, a P/E ratio of 34.16, a P/E/G ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations 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. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

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

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.