AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 2,775.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,553 shares of the real estate investment trust’s stock after acquiring an additional 1,499 shares during the quarter. Larson Financial Group LLC’s holdings in AvalonBay Communities were worth $350,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities during the second quarter valued at $32,000. Versant Capital Management Inc raised its position 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 purchasing an additional 169 shares during the last quarter. Mather Group LLC. lifted its stake in AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $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.

AvalonBay Communities Stock Up 1.1 %

Shares of NYSE:AVB opened at $235.45 on Wednesday. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.39 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $236.49. The business has a 50-day moving average price of $226.45 and a 200 day moving average price of $214.54. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million during 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 last year, the firm posted $2.66 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.89%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Insider Activity

In related news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVB. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Eleven research 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, the stock presently has a consensus rating of “Hold” and an average price target of $226.88.

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.