Coldstream Capital Management Inc. Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Coldstream Capital Management Inc. grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,910 shares of the real estate investment trust’s stock after buying an additional 570 shares during the quarter. Coldstream Capital Management Inc.’s holdings in AvalonBay Communities were worth $2,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities in the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in AvalonBay Communities in the third quarter worth about $39,000. Mather Group LLC. increased its position in AvalonBay Communities by 38.6% in the third 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 in the last quarter. Prospera Private Wealth LLC purchased a new stake in AvalonBay Communities in the third quarter worth about $51,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of AvalonBay Communities by 731.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 291 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 256 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Scotiabank dropped their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, BNP Paribas started coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target for the company. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $228.67.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

AvalonBay Communities Trading Down 0.9 %

Shares of NYSE AVB opened at $224.95 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The business’s 50 day moving average price is $226.79 and its 200-day moving average price is $216.66. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $239.29. The company has a market cap of $32.00 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.31 and a beta of 0.98.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate 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 return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the previous year, the business earned $2.66 earnings per share. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 3.02%. AvalonBay Communities’s payout ratio is currently 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.