Mutual of America Capital Management LLC Sells 501 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Mutual of America Capital Management LLC cut its stake in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,198 shares of the real estate investment trust’s stock after selling 501 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AvalonBay Communities were worth $5,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in AVB. Pinnacle Bancorp Inc. purchased a new position in shares of AvalonBay Communities in the 3rd quarter worth about $26,000. Quarry LP raised its holdings in AvalonBay Communities by 255.6% during the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 138 shares during the period. Castleview Partners LLC grew its stake in AvalonBay Communities by 1,542.9% during the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 216 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of AvalonBay Communities by 42.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 222 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 66 shares during the last quarter. Finally, Ronald Blue Trust Inc. boosted its stake in shares of AvalonBay Communities by 316.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 171 shares during the period. Institutional investors own 88.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TheStreet downgraded AvalonBay Communities from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Truist Financial lowered AvalonBay Communities from a “buy” rating to a “hold” rating and upped their price target for the company from $202.00 to $203.00 in a research note on Tuesday, January 16th. KeyCorp reiterated a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Wolfe Research downgraded AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $201.00 to $194.00 in a research note on Wednesday, November 29th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $196.06.

Get Our Latest Stock Report on AvalonBay Communities

AvalonBay Communities Stock Up 0.1 %

AvalonBay Communities stock opened at $174.63 on Monday. The firm has a market cap of $24.80 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 3.24 and a beta of 0.93. The firm has a fifty day moving average price of $181.20 and a two-hundred day moving average price of $177.94. AvalonBay Communities, Inc. has a fifty-two week low of $153.07 and a fifty-two week high of $198.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.84.

AvalonBay Communities (NYSE:AVBGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The firm had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter in the prior year, the firm posted $2.59 earnings per share. As a group, analysts forecast that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio is presently 100.76%.

AvalonBay Communities Profile

(Free Report)

As of September 30, 2023, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 89,240 apartment homes in 12 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. 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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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