2,196 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,196 shares of the real estate investment trust's stock, valued at approximately $495,000.

A number of other large investors also recently made changes to their positions in AVB. Segment Wealth Management LLC grew its position in AvalonBay Communities by 4.6% during the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its stake in shares of AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust's stock valued at $386,000 after buying an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in shares of 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 in the last quarter. Tectonic Advisors LLC boosted its position in AvalonBay Communities by 2.7% during the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust's stock valued at $436,000 after purchasing an additional 50 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in AvalonBay Communities by 4.6% in the third 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. Institutional investors and hedge funds own 92.61% of the company's stock.

Insiders Place Their Bets

In other news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company's stock.

AvalonBay Communities Stock Performance

Shares of AVB traded down $3.87 during mid-day trading on Monday, hitting $231.48. The company's stock had a trading volume of 237,603 shares, compared to its average volume of 718,059. The stock's 50-day moving average is $226.85 and its two-hundred day moving average is $215.37. The firm has a market capitalization of $32.93 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. 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, Inc. has a one year low of $169.37 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). The company had revenue of $734.31 million for 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 previous year, the company earned $2.66 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.94%. AvalonBay Communities's dividend payout ratio (DPR) is 93.02%.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of recent research reports. Evercore ISI raised their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Royal Bank of Canada reduced 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. Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a research note on Thursday, September 5th. Scotiabank reduced their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities currently has an average rating of "Hold" and a consensus target price of $228.67.

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.