AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,714 shares of the real estate investment trust's stock after purchasing an additional 5,993 shares during the quarter. Cerity Partners LLC's holdings in AvalonBay Communities were worth $13,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of AvalonBay Communities by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust's stock worth $504,658,000 after buying an additional 78,800 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AvalonBay Communities by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust's stock worth $429,145,000 after purchasing an additional 13,631 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of AvalonBay Communities by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust's stock worth $244,776,000 after purchasing an additional 126,055 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of AvalonBay Communities by 6.1% during the first quarter. Janus Henderson Group PLC now owns 521,815 shares of the real estate investment trust's stock worth $96,781,000 after purchasing an additional 29,953 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of AvalonBay Communities by 6.2% during the second quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust's stock worth $95,570,000 after purchasing an additional 26,859 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.0 %

Shares of AvalonBay Communities stock traded up $2.28 during trading hours on Tuesday, reaching $235.18. 283,095 shares of the company were exchanged, compared to its average volume of 719,424. The firm has a market cap of $33.45 billion, a PE ratio of 31.87, a PEG ratio of 3.39 and a beta of 0.97. The stock's fifty day moving average is $226.36 and its 200 day moving average is $214.27. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $236.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million for the quarter, compared to analysts' expectations of $731.67 million. During the same quarter in the previous year, the company posted $2.66 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.89%. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the transaction, the director now owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVB has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 6th. 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 note on Monday, September 16th. BNP Paribas started coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an "outperform" rating and a $250.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, Evercore ISI upped their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $226.88.

AvalonBay Communities Company 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.