AvalonBay Communities, Inc. (NYSE:AVB) Stake Cut by Sentry Investment Management LLC

Sentry Investment Management LLC lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 734 shares of the real estate investment trust’s stock after selling 79 shares during the quarter. Sentry Investment Management LLC’s holdings in AvalonBay Communities were worth $137,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at about $26,000. Quarry LP boosted its stake in AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 138 shares during the period. Ronald Blue Trust Inc. grew its holdings in shares of AvalonBay Communities by 316.7% during the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 171 shares during the last quarter. Castleview Partners LLC grew its holdings in shares of AvalonBay Communities by 1,542.9% during the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 216 shares during the last quarter. Finally, Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $45,000. Institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVB shares. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $191.50 in a research report on Monday, February 26th. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a report on Friday, January 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of AvalonBay Communities in a report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $207.00 target price on shares of AvalonBay Communities in a research note on Tuesday, March 26th. Finally, Mizuho dropped their price target on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.78.

Insider Buying and Selling

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $180.95 on Thursday. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The stock has a market cap of $25.73 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92. The company’s 50-day moving average price is $180.81 and its two-hundred day moving average price is $177.82.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same quarter in the previous year, the firm earned $2.59 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 10.8 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $1.70 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.76%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.82%.

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.