AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,460 shares of the real estate investment trust’s stock after selling 813 shares during the quarter. Retirement Systems of Alabama owned about 0.08% of AvalonBay Communities worth $21,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Castleview Partners LLC increased its position 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 worth $39,000 after purchasing an additional 216 shares in the last quarter. Arlington Trust Co LLC purchased a new position in AvalonBay Communities during the 4th quarter worth approximately $45,000. Lindbrook Capital LLC increased its position in AvalonBay Communities by 53.7% during the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 109 shares during the period. Sandy Spring Bank increased its position in AvalonBay Communities by 4,428.6% during the third quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 310 shares during the period. Finally, Bear Mountain Capital Inc. purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $66,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 0.2 %

Shares of NYSE AVB opened at $191.02 on Tuesday. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $198.65. The firm has a 50-day moving average price of $182.93 and a 200 day moving average price of $178.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The company had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter in the previous year, the business posted $2.57 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 10.84 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.56%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 27th. AvalonBay Communities’s payout ratio is presently 101.19%.

Insider Buying and Selling at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities 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 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 filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kevin P. O’shea sold 5,000 shares of the 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 sale, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Morgan Stanley raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $175.00 to $191.50 in a report on Monday, February 26th. Piper Sandler raised their price target on AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Mizuho reduced their price objective on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.78.

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.