Advisor Resource Council Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Advisor Resource Council acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,390 shares of the real estate investment trust's stock, valued at approximately $538,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Segment Wealth Management LLC raised its position in shares of AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC boosted its stake in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust's stock valued at $386,000 after purchasing an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in AvalonBay Communities by 4.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust's stock valued at $286,000 after purchasing an additional 50 shares in the last quarter. Tectonic Advisors LLC boosted its stake in AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust's stock valued at $436,000 after purchasing an additional 50 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB traded up $3.11 during midday trading on Thursday, hitting $228.04. The company's stock had a trading volume of 653,904 shares, compared to its average volume of 729,934. The stock has a market capitalization of $32.43 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 3.33 and a beta of 0.97. The stock's 50 day simple moving average is $225.66 and its 200 day simple moving average is $210.60. AvalonBay Communities, Inc. has a fifty-two week low of $164.76 and a fifty-two week high of $236.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.87%. The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the business posted $2.66 earnings per share. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Analyst Ratings Changes

AVB has been the subject of several research reports. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research note on Tuesday, August 27th. Zelman & Associates upgraded AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Scotiabank increased their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a "sector perform" rating in a report on Monday, September 16th. Piper Sandler increased their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $227.06.

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.