Sheaff Brock Investment Advisors LLC Sells 64 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Sheaff Brock Investment Advisors LLC reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 5,898 shares of the real estate investment trust’s stock after selling 64 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in AvalonBay Communities were worth $1,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVB. Segment Wealth Management LLC increased its holdings in shares of 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 worth $231,000 after buying an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC increased its holdings in shares of AvalonBay Communities by 2.7% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in shares of 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 worth $286,000 after buying an additional 50 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of AvalonBay Communities by 2.7% in 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 during the last quarter. Finally, OneDigital Investment Advisors LLC increased 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 worth $280,000 after buying an additional 55 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $229.41 on Friday. The firm has a 50-day moving average of $226.38 and a two-hundred day moving average of $212.43. AvalonBay Communities, Inc. has a 1 year low of $166.60 and a 1 year high of $236.26. The stock has a market cap of $32.63 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 2.03.

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

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.96%. AvalonBay Communities’s payout ratio is presently 93.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Evercore ISI upped their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Piper Sandler upped their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $226.88.

Insider Transactions at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.42% 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.