AvalonBay Communities, Inc. (NYSE:AVB) Stake Lessened by Fmr LLC

FMR LLC trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 246,459 shares of the real estate investment trust's stock after selling 5,624 shares during the period. FMR LLC owned 0.17% of AvalonBay Communities worth $55,515,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Segment Wealth Management LLC increased its holdings 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 buying an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC increased its stake in AvalonBay Communities by 2.7% during the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust's stock worth $386,000 after acquiring an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust's stock worth $286,000 after acquiring an additional 50 shares during the last quarter. Tectonic Advisors LLC raised 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 worth $436,000 after purchasing an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its stake in shares of AvalonBay Communities by 4.6% in 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 purchasing an additional 55 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Up 0.1 %

AvalonBay Communities stock traded up $0.15 during midday trading on Friday, hitting $226.55. The stock had a trading volume of 383,291 shares, compared to its average volume of 544,950. The business has a fifty day moving average price of $226.73 and a 200 day moving average price of $215.97. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The stock has a market cap of $32.22 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.33 and a beta of 0.98. 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 issued its quarterly 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 net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter last year, the firm posted $2.66 earnings per share. Research analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Insider Activity

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction on 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 sale, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

AVB has been the topic of several research reports. Scotiabank cut their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Truist Financial raised their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research note on Tuesday, August 27th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an "outperform" rating and a $250.00 price target for the company. Royal Bank of Canada cut their price objective on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. Eleven equities research 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, the stock currently has a consensus rating of "Hold" and a consensus 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.