Advisor Resource Council Invests $538,000 in AvalonBay Communities, Inc. (NYSE:AVB)

Advisor Resource Council purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, Holdings Channel reports. The fund purchased 2,390 shares of the real estate investment trust’s stock, valued at approximately $538,000.

Several other institutional investors have also made changes to their positions in AVB. Segment Wealth Management LLC boosted its stake in shares of AvalonBay Communities by 4.6% during 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 period. SYSTM Wealth Solutions LLC raised its holdings in shares of 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 acquiring an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 50 shares during the last quarter. Tectonic Advisors LLC grew its stake in AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 50 shares in the last quarter. Finally, Mather Group LLC. increased its position in 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 purchasing an additional 56 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 0.6 %

NYSE:AVB opened at $224.93 on Thursday. The company has a market cap of $31.99 billion, a PE ratio of 30.77, a PEG ratio of 3.29 and a beta of 0.97. The stock has a 50-day simple moving average of $225.66 and a 200 day simple moving average of $210.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities, Inc. has a 52-week low of $164.76 and a 52-week high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced 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). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same period in the prior year, the firm earned $2.66 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. AvalonBay Communities’s dividend payout ratio is 93.02%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler boosted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. BNP Paribas began coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $227.06.

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.