AvalonBay Communities, Inc. (NYSE:AVB) Position Increased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,189 shares of the real estate investment trust’s stock after acquiring an additional 312 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in AvalonBay Communities were worth $702,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities in the third quarter valued at approximately $39,000. Mather Group LLC. grew its holdings in shares of 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 purchasing an additional 56 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $51,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of AvalonBay Communities by 368.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 453 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Up 0.7 %

NYSE:AVB traded up $1.48 during trading hours on Friday, reaching $213.85. The company’s stock had a trading volume of 171,190 shares, compared to its average volume of 415,708. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The business’s 50-day moving average is $225.46 and its 200-day moving average is $220.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $731.67 million. During the same period in the prior year, the company posted $2.66 EPS. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVB. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Royal Bank of Canada cut their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Barclays began coverage on AvalonBay Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $243.00 price objective for the company. Evercore ISI increased their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $239.00 to $242.00 in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.53.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 of the company’s stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by insiders.

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.