Wellington Management Group LLP Has $374.13 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Wellington Management Group LLP decreased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,660,966 shares of the real estate investment trust's stock after selling 100,952 shares during the quarter. Wellington Management Group LLP owned 1.17% of AvalonBay Communities worth $374,133,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Segment Wealth Management LLC boosted its holdings in AvalonBay Communities by 4.6% in the third 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 lifted its position in shares of AvalonBay Communities by 2.7% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust's stock worth $386,000 after buying an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of AvalonBay Communities by 4.1% in 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 buying an additional 50 shares during the period. Tectonic Advisors LLC boosted its holdings in shares of AvalonBay Communities by 2.7% in the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust's stock valued at $436,000 after buying an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC grew its position in shares of AvalonBay Communities by 4.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust's stock valued at $280,000 after buying an additional 55 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

NYSE:AVB traded up $0.15 during midday trading on Friday, hitting $226.55. 383,291 shares of the stock were exchanged, compared to its average volume of 544,950. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 3.33 and a beta of 0.98. The business has a 50-day moving average price of $226.75 and a two-hundred day moving average price of $216.30. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data 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). The firm 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 last year, the company earned $2.66 EPS. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm 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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is presently 93.02%.

Insiders Place Their Bets

In other news, Director Timothy J. Naughton sold 23,697 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares of the company's stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on AVB shares. Zelman & Associates upgraded AvalonBay Communities to a "hold" rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. BNP Paribas initiated coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 target price on the stock. Wells Fargo & Company boosted their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $228.67.

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.