4,662 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Bought by Delta Investment Management LLC

Delta Investment Management LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,662 shares of the real estate investment trust’s stock, valued at approximately $873,000.

Several other institutional investors have also recently bought and sold shares of AVB. Truist Financial Corp boosted its stake in AvalonBay Communities by 22.9% during the 4th quarter. Truist Financial Corp now owns 8,016 shares of the real estate investment trust’s stock valued at $1,501,000 after purchasing an additional 1,494 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of AvalonBay Communities by 3.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,479 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 105 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of AvalonBay Communities in the fourth quarter worth $196,000. Jennison Associates LLC increased its position in AvalonBay Communities by 182.8% during the fourth quarter. Jennison Associates LLC now owns 143,037 shares of the real estate investment trust’s stock worth $26,779,000 after acquiring an additional 92,463 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in AvalonBay Communities by 4.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,301 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 100 shares during the period. Institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and issued a $207.00 target price on shares of AvalonBay Communities in a research note on Tuesday, March 26th. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft started coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 target price for the company. Truist Financial lowered their price target on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. Finally, Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $191.50 in a research note on Monday, February 26th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $196.78.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $191.45 on Friday. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $198.65. The stock has a 50-day simple moving average of $182.66 and a 200 day simple moving average of $178.67. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $27.22 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.56 and a beta of 0.92.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 8.10% and a net margin of 34.05%. The company had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. During the same period in the prior year, the firm posted $2.59 earnings per share. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 10.84 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.55%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Insider Activity

In other news, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the sale, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 0.42% of the company’s stock.

AvalonBay Communities 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.