Heitman Real Estate Securities LLC Cuts Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Heitman Real Estate Securities LLC lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 40.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,376 shares of the real estate investment trust’s stock after selling 111,288 shares during the period. AvalonBay Communities accounts for approximately 2.0% of Heitman Real Estate Securities LLC’s portfolio, making the stock its 22nd largest holding. Heitman Real Estate Securities LLC owned approximately 0.12% of AvalonBay Communities worth $37,251,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AVB. Atria Investments Inc lifted its holdings in AvalonBay Communities by 5.1% during the first quarter. Atria Investments Inc now owns 10,044 shares of the real estate investment trust’s stock valued at $1,864,000 after purchasing an additional 490 shares in the last quarter. Cetera Investment Advisers boosted its stake in AvalonBay Communities by 153.3% during the 1st quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock worth $3,259,000 after purchasing an additional 10,629 shares during the last quarter. Cetera Advisors LLC raised its position in AvalonBay Communities by 151.5% in the first quarter. Cetera Advisors LLC now owns 10,455 shares of the real estate investment trust’s stock valued at $1,940,000 after purchasing an additional 6,298 shares during the period. GAMMA Investing LLC grew its stake in shares of AvalonBay Communities by 56.2% in the second quarter. GAMMA Investing LLC now owns 1,885 shares of the real estate investment trust’s stock worth $390,000 after acquiring an additional 678 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 2,261 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Stock Down 2.0 %

Shares of NYSE AVB opened at $230.73 on Tuesday. The company’s 50 day moving average price is $226.85 and its 200-day moving average price is $215.37. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $32.82 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 3.44 and a beta of 0.98.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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). The firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the previous year, the company earned $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.95%. AvalonBay Communities’s payout ratio is 93.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Evercore ISI lifted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their target price 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. Finally, Truist Financial raised their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $228.67.

About AvalonBay Communities

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.