Bamco Inc. NY Lowers Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Bamco Inc. NY lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 48.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,611 shares of the real estate investment trust’s stock after selling 169,553 shares during the quarter. Bamco Inc. NY owned approximately 0.12% of AvalonBay Communities worth $40,007,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AVB. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities in the third quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities in the 2nd quarter worth approximately $32,000. Brooklyn Investment Group purchased a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $39,000. Versant Capital Management Inc raised its stake in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 169 shares in the last quarter. Finally, Mather Group LLC. lifted its position in 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 last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Down 2.0 %

AvalonBay Communities stock opened at $230.73 on Tuesday. The business’s 50-day moving average price is $226.85 and its 200 day moving average price is $215.37. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market cap of $32.82 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share 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 firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same period last year, the firm earned $2.66 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a yield of 2.95%. AvalonBay Communities’s payout ratio is 93.02%.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the transaction, the director now directly owns 111,436 shares of the company’s stock, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVB has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Scotiabank decreased their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Evercore ISI upped their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $228.67.

Read Our Latest Research Report on AvalonBay Communities

AvalonBay Communities Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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