Orion Portfolio Solutions LLC Raises Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Orion Portfolio Solutions LLC raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 14.8% during the third quarter, HoldingsChannel reports. The firm owned 8,230 shares of the real estate investment trust’s stock after buying an additional 1,060 shares during the period. Orion Portfolio Solutions LLC’s holdings in AvalonBay Communities were worth $1,854,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities in the 3rd quarter valued at $26,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities in the third quarter valued at about $39,000. Mather Group LLC. increased its stake in shares of AvalonBay Communities by 38.6% during the third 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 period. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the third quarter worth about $51,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in AvalonBay Communities by 731.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 291 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 256 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AVB stock opened at $227.84 on Friday. The company has a market cap of $32.41 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 3.31 and a beta of 0.98. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $226.90 and a two-hundred day moving average price of $216.93. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $731.67 million. During the same period last year, the company posted $2.66 EPS. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.98%. AvalonBay Communities’s payout ratio is currently 93.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVB shares. Evercore ISI raised their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial upped their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Wells Fargo & Company raised their price target on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $228.67.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated 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 sale, the director now directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.