Carrera Capital Advisors Buys New Shares in AvalonBay Communities, Inc. (NYSE:AVB)

Carrera Capital Advisors purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,156 shares of the real estate investment trust’s stock, valued at approximately $2,078,000.

Several other institutional investors have also added to or reduced their stakes in the business. Segment Wealth Management LLC grew its position in AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC raised its holdings in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in 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 acquiring an additional 50 shares during the last quarter. Tectonic Advisors LLC increased its holdings in AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 50 shares during the period. Finally, Mather Group LLC. raised its position in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AvalonBay Communities stock traded down $0.59 during mid-day trading on Tuesday, hitting $231.62. The stock had a trading volume of 72,491 shares, compared to its average volume of 726,517. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $226.05 and its 200 day moving average is $211.63. The firm has a market capitalization of $32.94 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.55 and a beta of 0.97. AvalonBay Communities, Inc. has a one year low of $164.76 and a one year high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 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 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 2.94%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank boosted their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. 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 research report on Thursday, July 18th. BNP Paribas started coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Finally, Truist Financial lifted their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $227.06.

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.