AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 14.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,713 shares of the real estate investment trust’s stock after purchasing an additional 1,251 shares during the period. Naviter Wealth LLC’s holdings in AvalonBay Communities were worth $1,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AVB. Pinnacle Bancorp Inc. lifted its holdings in AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter. Arlington Trust Co LLC purchased a new position in AvalonBay Communities during the 4th quarter worth approximately $45,000. Bear Mountain Capital Inc. purchased a new position in AvalonBay Communities during the 4th quarter worth approximately $66,000. Sunbelt Securities Inc. purchased a new position in AvalonBay Communities during the 1st quarter worth approximately $68,000. Finally, Gold Investment Management Ltd. purchased a new position in AvalonBay Communities during the 4th quarter worth approximately $71,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of AvalonBay Communities from $207.00 to $213.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Scotiabank boosted their target price on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Barclays boosted their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Morgan Stanley boosted their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Finally, Piper Sandler boosted their price objective on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $206.89.

AvalonBay Communities Price Performance

AvalonBay Communities stock traded down $0.14 during trading hours on Tuesday, hitting $204.18. 787,457 shares of the stock were exchanged, compared to its average volume of 747,159. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $29.03 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.02 and a beta of 0.96. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $208.45. The business’s 50-day moving average is $197.10 and its two-hundred day moving average is $187.00.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). The firm had revenue of $712.86 million for the quarter, compared to the consensus estimate of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period in the prior year, the company posted $2.57 earnings per share. Equities research analysts expect that AvalonBay Communities, Inc. will post 10.92 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.33%. AvalonBay Communities’s payout ratio is 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.