AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,099 shares of the real estate investment trust’s stock after purchasing an additional 456 shares during the quarter. Procyon Advisors LLC’s holdings in AvalonBay Communities were worth $3,401,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AVB. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities in the second quarter worth about $32,000. Versant Capital Management Inc lifted its stake in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares during the period. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities in the 1st quarter worth about $39,000. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of AvalonBay Communities by 50.0% during 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 during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s 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 directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. This 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target for the company. Scotiabank boosted their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, UBS Group increased their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $225.88.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $219.62 on Monday. The business has a 50 day simple moving average of $221.83 and a 200 day simple moving average of $205.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $31.23 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $236.26.

AvalonBay Communities (NYSE:AVB) 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 the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. During the same period last year, the business posted $2.66 EPS. On average, sell-side analysts forecast 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 will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.70 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

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.