Massachusetts Financial Services Co. MA Sells 25,801 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Massachusetts Financial Services Co. MA lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 26.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,207 shares of the real estate investment trust's stock after selling 25,801 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in AvalonBay Communities were worth $15,814,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. &PARTNERS acquired a new position in shares of AvalonBay Communities during the 2nd quarter valued at about $1,538,000. Swedbank AB acquired a new position in AvalonBay Communities during the first quarter valued at approximately $4,532,000. American Assets Capital Advisers LLC acquired a new stake in shares of AvalonBay Communities in the third quarter worth $1,014,000. Diversified Trust Co bought a new stake in shares of AvalonBay Communities during the 2nd quarter worth $1,139,000. Finally, DekaBank Deutsche Girozentrale grew its stake in AvalonBay Communities by 10.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust's stock valued at $18,338,000 after buying an additional 9,125 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 14th. Zelman & Associates raised AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Finally, Piper Sandler raised their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $226.88.

AvalonBay Communities Trading Up 1.1 %

Shares of NYSE AVB traded up $2.55 during midday trading on Tuesday, reaching $235.45. 729,899 shares of the stock were exchanged, compared to its average volume of 721,463. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $236.49. The business has a 50-day simple moving average of $226.45 and a two-hundred day simple moving average of $214.54. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 3.39 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the prior year, the firm posted $2.66 earnings per share. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

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 given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is presently 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.