Pathstone Holdings LLC Has $2.90 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Pathstone Holdings LLC reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,835 shares of the real estate investment trust's stock after selling 2,256 shares during the period. Pathstone Holdings LLC's holdings in AvalonBay Communities were worth $2,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Segment Wealth Management LLC lifted its stake 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 worth $231,000 after purchasing an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC raised its holdings in shares of 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 purchasing an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. lifted its position in shares of AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust's stock worth $286,000 after buying an additional 50 shares during the last quarter. Tectonic Advisors LLC boosted 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 valued at $436,000 after buying an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its holdings 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 buying an additional 55 shares during the period. Institutional investors own 92.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AVB shares. Wells Fargo & Company raised their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Scotiabank cut their price target on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on 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. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, Evercore ISI upped their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $226.88.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 23,697 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by company insiders.

AvalonBay Communities Trading Up 1.1 %

AVB stock traded up $2.49 during mid-day trading on Tuesday, reaching $235.39. 710,401 shares of the stock traded hands, compared to its average volume of 721,379. The stock's fifty day moving average is $226.36 and its 200-day moving average is $214.27. 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 52-week low of $169.37 and a 52-week high of $236.49. The company has a market cap of $33.48 billion, a P/E ratio of 31.87, a P/E/G ratio of 3.39 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS 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 analysts' expectations of $731.67 million. During the same quarter last year, the firm earned $2.66 EPS. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share 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 of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.89%. AvalonBay Communities's dividend payout ratio (DPR) is 93.02%.

AvalonBay Communities Company 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.