AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its position in AvalonBay Communities, Inc. (NYSE:AVB) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,925 shares of the real estate investment trust’s stock after selling 170 shares during the period. Hartford Investment Management Co.’s holdings in AvalonBay Communities were worth $2,010,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Segment Wealth Management LLC raised its position in AvalonBay Communities by 4.6% in the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC raised its holdings in shares of 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 worth $386,000 after purchasing an additional 49 shares in the last quarter. Mather Group LLC. raised its holdings in shares of AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in AvalonBay Communities by 4.6% during the second 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. Finally, Mechanics Bank Trust Department boosted its holdings in AvalonBay Communities by 0.3% during the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock worth $3,710,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the topic of several research reports. Piper Sandler upped their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Scotiabank boosted their target price on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $225.88.

Insiders Place Their Bets

In other news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction on 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 sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the firm’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 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 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 0.1 %

AVB opened at $229.76 on Friday. The company has a market capitalization of $32.67 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $236.26. The business has a 50-day moving average of $224.38 and a 200-day moving average of $207.73.

AvalonBay Communities (NYSE:AVB) last posted its 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). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same quarter last year, the firm earned $2.66 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

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.