RPg Family Wealth Advisory LLC Buys Shares of 116 AvalonBay Communities, Inc. (NYSE:AVB)

RPg Family Wealth Advisory LLC acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 116 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also modified their holdings of AVB. Townsquare Capital LLC boosted its holdings in shares of AvalonBay Communities by 42.0% in the third quarter. Townsquare Capital LLC now owns 4,900 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 1,450 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of AvalonBay Communities by 54.8% during the third quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust’s stock worth $58,459,000 after buying an additional 91,861 shares in the last quarter. Brooklyn Investment Group acquired a new stake in AvalonBay Communities in the 3rd quarter valued at approximately $39,000. The Manufacturers Life Insurance Company lifted its stake in AvalonBay Communities by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 112,392 shares of the real estate investment trust’s stock valued at $25,316,000 after acquiring an additional 2,702 shares in the last quarter. Finally, Capital Square LLC boosted its position in AvalonBay Communities by 26.9% during the 3rd quarter. Capital Square LLC now owns 3,067 shares of the real estate investment trust’s stock worth $691,000 after acquiring an additional 650 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Up 1.0 %

Shares of NYSE AVB opened at $237.74 on Thursday. The stock has a 50-day moving average price of $226.60 and a two-hundred day moving average price of $214.71. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. 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 $33.82 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.40 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). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.86%. AvalonBay Communities’s payout ratio is presently 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 2,261 shares of the firm’s 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 trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Scotiabank decreased their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Piper Sandler raised their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $226.88.

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.