Naviter Wealth LLC Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Naviter Wealth LLC lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,713 shares of the real estate investment trust’s stock after purchasing an additional 1,251 shares during the quarter. Naviter Wealth LLC’s holdings in AvalonBay Communities were worth $1,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Neo Ivy Capital Management purchased a new stake in AvalonBay Communities in the third quarter worth approximately $3,610,000. Lasalle Investment Management Securities LLC boosted its stake in AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock worth $112,827,000 after buying an additional 18,320 shares in the last quarter. Delta Investment Management LLC purchased a new stake in AvalonBay Communities in the fourth quarter worth approximately $873,000. GSI Capital Advisors LLC boosted its stake in AvalonBay Communities by 21.3% in the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after buying an additional 8,925 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in AvalonBay Communities by 2.1% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock valued at $46,561,000 after purchasing an additional 5,061 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.1 %

Shares of NYSE AVB traded down $0.14 during trading on Tuesday, reaching $204.18. The company had a trading volume of 787,457 shares, compared to its average volume of 747,159. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $208.45. The stock has a market cap of $29.03 billion, a PE ratio of 30.29, a P/E/G ratio of 3.02 and a beta of 0.96. The business’s 50-day moving average is $197.10 and its 200 day moving average is $187.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The business had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same period last year, the business earned $2.57 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.33%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVB. Mizuho boosted their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Evercore ISI downgraded AvalonBay Communities from an “outperform” rating to an “inline” rating and set a $202.00 price objective for the company. in a research report on Monday, May 13th. Scotiabank boosted their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Royal Bank of Canada boosted their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Finally, Barclays upped their target price on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $206.89.

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.