AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 16.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,607 shares of the real estate investment trust’s stock after selling 516 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in AvalonBay Communities were worth $488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates raised its stake in AvalonBay Communities by 7.4% during the fourth quarter. Raymond James & Associates now owns 157,652 shares of the real estate investment trust’s stock valued at $29,516,000 after buying an additional 10,868 shares in the last quarter. Trilogy Capital Inc. boosted its stake in shares of AvalonBay Communities by 4.5% during the 4th quarter. Trilogy Capital Inc. now owns 13,810 shares of the real estate investment trust’s stock worth $2,585,000 after acquiring an additional 590 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of AvalonBay Communities by 27.7% in the fourth quarter. Whittier Trust Co. now owns 3,195 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 694 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of AvalonBay Communities by 2.1% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock valued at $46,561,000 after purchasing an additional 5,061 shares in the last quarter. Finally, Bremer Bank National Association lifted its holdings in shares of AvalonBay Communities by 3.7% in the fourth quarter. Bremer Bank National Association now owns 13,485 shares of the real estate investment trust’s stock valued at $2,525,000 after purchasing an additional 486 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

AvalonBay Communities Trading Up 1.2 %

Shares of NYSE:AVB opened at $184.13 on Friday. The company has a market cap of $26.18 billion, a P/E ratio of 28.11, a P/E/G ratio of 3.37 and a beta of 0.92. The stock’s 50-day moving average is $181.15 and its 200-day moving average is $177.96. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $198.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period in the prior year, the business posted $2.59 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $1.70 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.82%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVB. Mizuho reduced their target price on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $191.00 target price on shares of AvalonBay Communities in a report on Thursday, February 22nd. Truist Financial reduced their target price on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Wolfe Research lowered AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $185.00 price objective on shares of AvalonBay Communities in a report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and an average price target of $196.78.

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.