AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,015 shares of the real estate investment trust’s stock after buying an additional 60 shares during the period. Raymond James Trust N.A.’s holdings in AvalonBay Communities were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVB. Opal Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc lifted its holdings in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the period. Mather Group LLC. grew its position 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 valued at $45,000 after buying an additional 56 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the 3rd quarter valued at $51,000. Finally, Massmutual Trust Co. FSB ADV raised its position in AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVB. Wells Fargo & Company lifted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada reduced their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Evercore ISI increased their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $226.88.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by insiders.

AvalonBay Communities Stock Up 1.1 %

AVB stock opened at $235.45 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company’s 50 day simple moving average is $226.45 and its 200-day simple moving average is $214.54. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $236.49. The firm has a market capitalization of $33.49 billion, a PE ratio of 32.21, a P/E/G ratio of 3.39 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same period in the previous year, the business posted $2.66 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

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.