Diversified Trust Co Sells 17,997 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Diversified Trust Co decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 95.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 939 shares of the real estate investment trust's stock after selling 17,997 shares during the period. Diversified Trust Co's holdings in AvalonBay Communities were worth $207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Choreo LLC bought a new position in shares of AvalonBay Communities in the second quarter worth about $450,000. DekaBank Deutsche Girozentrale grew its stake in shares of AvalonBay Communities by 10.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 111,107 shares of the real estate investment trust's stock worth $22,664,000 after buying an additional 10,773 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of AvalonBay Communities by 30.2% during the second quarter. Meeder Advisory Services Inc. now owns 1,938 shares of the real estate investment trust's stock worth $401,000 after buying an additional 449 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of AvalonBay Communities by 8.1% during the 2nd quarter. Federated Hermes Inc. now owns 7,730 shares of the real estate investment trust's stock valued at $1,599,000 after acquiring an additional 580 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in AvalonBay Communities by 11.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,638 shares of the real estate investment trust's stock worth $1,166,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 2,261 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the transaction, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

AvalonBay Communities Stock Up 1.0 %

AVB stock traded up $2.01 during trading on Monday, reaching $212.78. 19,284 shares of the stock were exchanged, compared to its average volume of 460,226. The firm's 50 day moving average is $225.35 and its 200 day moving average is $220.35. The firm has a market cap of $30.27 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99. 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, Inc. has a twelve month low of $169.37 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued 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). The firm had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the previous year, the company earned $2.66 earnings per share. As a group, research analysts forecast 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 issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. AvalonBay Communities's dividend payout ratio is presently 93.02%.

Analyst Ratings Changes

AVB has been the subject of several recent research reports. JPMorgan Chase & Co. raised AvalonBay Communities from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Royal Bank of Canada dropped their price target 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. Barclays started coverage on AvalonBay Communities in a research report on Tuesday, December 17th. They set an "equal weight" rating and a $243.00 target price for the company. Evercore ISI raised their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Finally, Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and upped their target price for the company from $239.00 to $242.00 in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $234.53.

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.