OneAscent Wealth Management LLC Buys 441 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

OneAscent Wealth Management LLC raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 34.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,733 shares of the real estate investment trust’s stock after acquiring an additional 441 shares during the quarter. OneAscent Wealth Management LLC’s holdings in AvalonBay Communities were worth $393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVB. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities during the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of AvalonBay Communities by 1,877.8% during the 2nd 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 in the last quarter. Mather Group LLC. grew its position 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 buying an additional 56 shares during the period. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities in the 1st quarter worth about $39,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities 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 transaction, the director now owns 111,436 shares in the company, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Scotiabank cut their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. BNP Paribas began coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $226.88.

AvalonBay Communities Price Performance

Shares of AVB opened at $229.22 on Tuesday. The firm has a fifty day simple moving average of $226.45 and a two-hundred day simple moving average of $213.02. The firm has a market cap of $32.60 billion, a PE ratio of 31.36, a P/E/G ratio of 3.35 and a beta of 0.97. The company has a current ratio of 1.64, a quick ratio of 2.03 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 1-year low of $166.60 and a 1-year high of $236.26.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the company posted $2.66 EPS. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

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.