Ferguson Wellman Capital Management Inc. Has $51.79 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Ferguson Wellman Capital Management Inc. lowered its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,939 shares of the real estate investment trust's stock after selling 22,042 shares during the period. AvalonBay Communities accounts for 1.1% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its 26th largest holding. Ferguson Wellman Capital Management Inc. owned about 0.16% of AvalonBay Communities worth $51,794,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in AvalonBay Communities by 115.2% in the 3rd quarter. Blue Trust Inc. now owns 2,668 shares of the real estate investment trust's stock worth $552,000 after purchasing an additional 1,428 shares during the last quarter. West Oak Capital LLC grew its holdings in AvalonBay Communities by 15.7% during the 3rd quarter. West Oak Capital LLC now owns 1,620 shares of the real estate investment trust's stock worth $365,000 after acquiring an additional 220 shares during the period. Vert Asset Management LLC grew its holdings in AvalonBay Communities by 1.6% during the 3rd quarter. Vert Asset Management LLC now owns 58,111 shares of the real estate investment trust's stock worth $13,090,000 after acquiring an additional 919 shares during the period. Aurora Investment Managers LLC. grew its holdings in AvalonBay Communities by 14.6% during the 3rd quarter. Aurora Investment Managers LLC. now owns 15,686 shares of the real estate investment trust's stock worth $3,533,000 after acquiring an additional 1,997 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in AvalonBay Communities by 3.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,774 shares of the real estate investment trust's stock worth $9,410,000 after acquiring an additional 1,377 shares during the period. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of AVB stock traded up $1.67 on Friday, reaching $227.14. The stock had a trading volume of 533,150 shares, compared to its average volume of 728,573. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm's 50-day moving average is $223.51 and its two-hundred day moving average is $206.77. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $236.26.

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

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 2.99%. AvalonBay Communities's dividend payout ratio (DPR) is currently 101.19%.

Wall Street Analyst Weigh In

A number of research firms have commented on AVB. Zelman & Associates raised shares of AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Scotiabank boosted their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a "sector perform" rating in a report on Monday, September 16th. Royal Bank of Canada boosted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a "sector perform" rating in a report on Friday, August 2nd. UBS Group boosted their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $225.88.

Insider Activity at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction that occurred on 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 owns 4,383 shares in the company, valued at $908,026.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by company 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.