Highline Wealth Partners LLC Buys Shares of 1,320 AvalonBay Communities, Inc. (NYSE:AVB)

Highline Wealth Partners LLC purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,320 shares of the real estate investment trust’s stock, valued at approximately $297,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of AvalonBay Communities by 11.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,100 shares of the real estate investment trust’s stock worth $1,318,000 after purchasing an additional 720 shares during the period. Norden Group LLC acquired a new stake in AvalonBay Communities during the 1st quarter worth about $609,000. Advisor Resource Council lifted its stake in AvalonBay Communities by 36.4% during the first quarter. Advisor Resource Council now owns 1,645 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 439 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in AvalonBay Communities by 10.4% during the first quarter. First Trust Direct Indexing L.P. now owns 3,574 shares of the real estate investment trust’s stock valued at $663,000 after buying an additional 338 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of AvalonBay Communities by 3.4% in the first quarter. Van ECK Associates Corp now owns 60,947 shares of the real estate investment trust’s stock worth $11,309,000 after buying an additional 2,016 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler boosted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. 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 research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Truist Financial raised their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $225.88.

AvalonBay Communities Trading Down 0.5 %

Shares of AVB stock opened at $227.62 on Wednesday. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $236.26. The company has a market capitalization of $32.37 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The firm has a 50 day moving average price of $225.37 and a two-hundred day moving average price of $209.06. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The business had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter last year, the company posted $2.66 earnings per share. As a group, analysts predict that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 2.99%. AvalonBay Communities’s dividend payout ratio is 115.06%.

Insider Activity at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Company 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.