Aquila Investment Management LLC Sells 4,000 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Aquila Investment Management LLC cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 57.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,000 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. Aquila Investment Management LLC’s holdings in AvalonBay Communities were worth $562,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in shares of AvalonBay Communities in the third quarter worth about $26,000. Quarry LP increased its stake in shares of AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 138 shares during the period. Castleview Partners LLC increased its stake in shares of AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 216 shares during the period. Ronald Blue Trust Inc. increased its stake in shares of AvalonBay Communities by 316.7% in the third 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. Finally, Arlington Trust Co LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth about $45,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Down 1.2 %

Shares of AVB opened at $183.78 on Friday. The company has a market capitalization of $26.13 billion, a P/E ratio of 28.06, a PEG ratio of 3.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $198.65. The business’s 50 day simple moving average is $180.32 and its 200-day simple moving average is $177.64.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 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 return on equity of 7.98% and a net margin of 33.56%. During the same period in the previous year, the firm earned $2.59 earnings per share. As a group, sell-side analysts predict that AvalonBay Communities, Inc. will post 10.8 EPS for the current fiscal 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 $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 3.70%. The ex-dividend date is Wednesday, March 27th. AvalonBay Communities’s payout ratio is presently 103.82%.

Insider Transactions at AvalonBay Communities

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

Wall Street Analyst Weigh In

AVB has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 target price on the stock. Mizuho decreased their target price on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $191.50 in a research report on Monday, February 26th. Wolfe Research downgraded AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Finally, Piper Sandler reissued an “overweight” rating and set a $207.00 target price on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $196.78.

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.