Naviter Wealth LLC Has $1.60 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Naviter Wealth LLC boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,462 shares of the real estate investment trust’s stock after acquiring an additional 909 shares during the quarter. Naviter Wealth LLC’s holdings in AvalonBay Communities were worth $1,598,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its holdings in shares of AvalonBay Communities by 6.5% during the 3rd quarter. Deutsche Bank AG now owns 2,496,671 shares of the real estate investment trust’s stock valued at $428,778,000 after buying an additional 151,995 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of AvalonBay Communities by 17.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,298,186 shares of the real estate investment trust’s stock valued at $394,690,000 after buying an additional 341,332 shares during the last quarter. Northern Trust Corp raised its stake in shares of AvalonBay Communities by 5.9% in the 3rd quarter. Northern Trust Corp now owns 2,278,363 shares of the real estate investment trust’s stock valued at $391,286,000 after acquiring an additional 126,288 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AvalonBay Communities by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,473,979 shares of the real estate investment trust’s stock valued at $253,141,000 after acquiring an additional 29,453 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of AvalonBay Communities by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,114,611 shares of the real estate investment trust’s stock valued at $191,423,000 after acquiring an additional 9,223 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 0.2 %

Shares of AvalonBay Communities stock traded up $0.47 during trading hours on Monday, hitting $191.92. The company’s stock had a trading volume of 283,315 shares, compared to its average volume of 809,763. The company has a market capitalization of $27.29 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a 50 day moving average of $182.66 and a 200 day moving average of $178.68. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The firm had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same quarter in the previous year, the business posted $2.59 earnings per share. Analysts predict that AvalonBay Communities, Inc. will post 10.84 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $1.70 per share. The ex-dividend date was Wednesday, March 27th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.54%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVB. Royal Bank of Canada raised their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research note on Monday. Piper Sandler raised their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial dropped their price target on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th. KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.78.

Insider Buying and Selling

In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AvalonBay Communities 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 stock was 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 directly owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now 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.

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.