GAMMA Investing LLC Invests $196,000 in AvalonBay Communities, Inc. (NYSE:AVB)

GAMMA Investing LLC bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,096 shares of the real estate investment trust’s stock, valued at approximately $196,000.

A number of other institutional investors also recently modified their holdings of the company. First Affirmative Financial Network raised its position in shares of AvalonBay Communities by 4.8% during the fourth quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 69 shares during the period. Atria Investments Inc grew its holdings in AvalonBay Communities by 0.7% during the third quarter. Atria Investments Inc now owns 10,723 shares of the real estate investment trust’s stock worth $1,842,000 after buying an additional 79 shares in the last quarter. Wealth Alliance grew its holdings in AvalonBay Communities by 5.8% during the fourth quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 88 shares in the last quarter. Toroso Investments LLC grew its holdings in AvalonBay Communities by 0.4% during the third quarter. Toroso Investments LLC now owns 26,102 shares of the real estate investment trust’s stock worth $4,483,000 after buying an additional 97 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its holdings in AvalonBay Communities by 4.1% during the fourth quarter. Stonegate Investment Group LLC now owns 2,498 shares of the real estate investment trust’s stock worth $468,000 after buying an additional 98 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $191.30 on Friday. The company has a 50 day moving average of $182.37 and a 200 day moving average of $178.52. The stock has a market cap of $27.20 billion, a P/E ratio of 29.21, a P/E/G ratio of 3.56 and a beta of 0.92. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month 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.

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

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.70 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.55%. AvalonBay Communities’s dividend payout ratio is 103.82%.

Insider Activity

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the company’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 completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at approximately $4,054,985.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of recent analyst reports. Barclays upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $194.00 to $204.00 in a research note on Tuesday, February 20th. Piper Sandler restated an “overweight” rating and issued a $207.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on AvalonBay Communities in a research note on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price objective for the company. KeyCorp restated a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $196.78.

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.