Diversified Trust Co Raises Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Diversified Trust Co increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 243.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,936 shares of the real estate investment trust's stock after buying an additional 13,430 shares during the period. Diversified Trust Co's holdings in AvalonBay Communities were worth $4,265,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities during the second quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 169 shares during the period. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the first quarter valued at about $39,000. Pinnacle Bancorp Inc. raised its stake in AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust's stock worth $54,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

Wall Street Analyst Weigh In

AVB has been the topic of a number of research analyst reports. Piper Sandler raised their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a research note on Thursday, September 5th. Truist Financial increased their price objective 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. Royal Bank of Canada boosted their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Finally, BNP Paribas assumed coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $225.88.

AvalonBay Communities Stock Down 1.4 %

AVB traded down $3.02 during midday trading on Monday, hitting $218.00. The company had a trading volume of 526,708 shares, compared to its average volume of 736,886. The stock's 50 day moving average price is $220.85 and its 200 day moving average price is $204.23. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. The company has a market capitalization of $31.00 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 3.55 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. During the same quarter in the previous year, the company posted $2.66 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $1.70 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. AvalonBay Communities's dividend payout ratio is presently 101.19%.

Insider Buying and Selling

In related news, SVP Keri A. Shea sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company's stock, valued at $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares of the company's stock, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

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.