Highline Wealth Partners LLC Invests $297,000 in AvalonBay Communities, Inc. (NYSE:AVB)

Highline Wealth Partners LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,320 shares of the real estate investment trust’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Segment Wealth Management LLC boosted its holdings 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 purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC raised its position in shares of AvalonBay Communities by 2.7% in the second 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 in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake 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 buying an additional 50 shares during the period. Tectonic Advisors LLC grew its position in AvalonBay Communities by 2.7% during the third 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, Mather Group LLC. increased its stake 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 acquiring an additional 56 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Insider Activity at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

AvalonBay Communities Price Performance

NYSE:AVB opened at $227.62 on Wednesday. The firm has a market capitalization of $32.37 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 3.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The business has a 50 day simple moving average of $225.37 and a 200-day simple moving average of $209.06. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The firm had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the previous year, the company posted $2.66 earnings per share. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is presently 115.06%.

Analyst Upgrades and Downgrades

AVB has been the subject of several research analyst reports. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price for the company. Truist Financial lifted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $225.88.

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.