Pathstone Holdings LLC Sells 2,256 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Pathstone Holdings LLC lowered its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 14.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,835 shares of the real estate investment trust’s stock after selling 2,256 shares during the period. Pathstone Holdings LLC’s holdings in AvalonBay Communities were worth $2,896,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in shares of AvalonBay Communities by 487.8% in the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after purchasing an additional 298,322 shares during the period. International Assets Investment Management LLC bought a new position in AvalonBay Communities in the 3rd quarter valued at about $581,960,000. SG Americas Securities LLC lifted its position in AvalonBay Communities by 958.9% during the third quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust’s stock worth $38,882,000 after acquiring an additional 156,316 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in AvalonBay Communities during the third quarter worth approximately $29,256,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of AvalonBay Communities during the second quarter worth approximately $26,755,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVB. Wells Fargo & Company lifted their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Scotiabank reduced their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and an average price target of $226.88.

AvalonBay Communities Stock Up 0.4 %

Shares of NYSE AVB opened at $232.94 on Tuesday. The stock has a 50-day moving average price of $226.36 and a two-hundred day moving average price of $214.27. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $236.26. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market cap of $33.13 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 3.39 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the prior year, the company earned $2.66 earnings per share. As a group, analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.92%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. The trade was a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% 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.