AvalonBay Communities, Inc. (NYSE:AVB) Position Raised by Napa Wealth Management

Napa Wealth Management increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 23.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the real estate investment trust’s stock after purchasing an additional 243 shares during the period. Napa Wealth Management’s holdings in AvalonBay Communities were worth $288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVB. Empowered Funds LLC raised its holdings in AvalonBay Communities by 24.2% during the first quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 357 shares in the last quarter. Blair William & Co. IL raised its holdings in AvalonBay Communities by 3.2% during the first quarter. Blair William & Co. IL now owns 9,758 shares of the real estate investment trust’s stock worth $1,811,000 after purchasing an additional 305 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of AvalonBay Communities in the first quarter valued at $293,000. Acadian Asset Management LLC bought a new position in shares of AvalonBay Communities in the first quarter valued at $95,000. Finally, Edgestream Partners L.P. increased its holdings in shares of AvalonBay Communities by 199.8% in the first quarter. Edgestream Partners L.P. now owns 10,636 shares of the real estate investment trust’s stock valued at $1,974,000 after buying an additional 7,088 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. 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 report on Monday, September 16th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Scotiabank dropped their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday. BNP Paribas assumed coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Piper Sandler upped their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $226.88.

Insider Activity

In related news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by corporate insiders.

AvalonBay Communities Trading Down 1.0 %

AvalonBay Communities stock opened at $227.21 on Monday. The company’s fifty day simple moving average is $226.38 and its 200-day simple moving average is $212.76. The company has a quick ratio of 2.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 12 month low of $166.60 and a 12 month high of $236.26. The stock has a market cap of $32.32 billion, a P/E ratio of 31.38, a P/E/G ratio of 3.35 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 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 company had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same quarter in the prior year, the firm earned $2.66 earnings per share. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

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.