Concentric Wealth Management LLC Has $5.27 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Concentric Wealth Management LLC increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,378 shares of the real estate investment trust’s stock after purchasing an additional 68 shares during the period. AvalonBay Communities makes up 1.3% of Concentric Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Concentric Wealth Management LLC’s holdings in AvalonBay Communities were worth $5,266,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Segment Wealth Management LLC raised its position in AvalonBay Communities by 4.6% in the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in AvalonBay Communities by 2.7% during the second 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 during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 50 shares during the last quarter. Tectonic Advisors LLC lifted its position in AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AVB. JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada reduced their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Finally, BNP Paribas assumed coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $226.88.

AvalonBay Communities Trading Up 0.6 %

Shares of NYSE AVB opened at $231.94 on Monday. The firm has a 50 day moving average price of $226.36 and a two-hundred day moving average price of $214.02. The stock has a market cap of $32.99 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 3.39 and a beta of 0.97. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $236.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million during the quarter, compared to analyst estimates 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 in the previous year, the company earned $2.66 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is presently 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction 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 owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

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.