Naviter Wealth LLC Has $1.60 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Naviter Wealth LLC grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,462 shares of the real estate investment trust’s stock after purchasing an additional 909 shares during the quarter. Naviter Wealth LLC’s holdings in AvalonBay Communities were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Castleview Partners LLC raised its stake in AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 216 shares during the period. Arlington Trust Co LLC acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $45,000. Lindbrook Capital LLC raised its stake in AvalonBay Communities by 53.7% during the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 109 shares during the period. Sandy Spring Bank raised its stake in AvalonBay Communities by 4,428.6% during the 3rd quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 310 shares during the period. Finally, Bear Mountain Capital Inc. acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $66,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB traded up $0.47 during trading on Monday, hitting $191.92. 283,315 shares of the company were exchanged, compared to its average volume of 809,763. The company has a market cap of $27.29 billion, a PE ratio of 28.61, a P/E/G ratio of 3.23 and a beta of 0.92. The stock has a 50 day moving average of $182.66 and a 200 day moving average of $178.68. 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 current ratio of 1.44 and a quick ratio of 1.44.

AvalonBay Communities (NYSE:AVB) last issued 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). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The business had revenue of $704.71 million during the quarter, compared to analysts’ expectations of $701.67 million. During the same quarter last year, the business posted $2.59 EPS. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 10.84 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $1.70 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.54%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s 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 owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the transaction, 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. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVB. Royal Bank of Canada upped their price target on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Monday. KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $191.50 in a research note on Monday, February 26th. The Goldman Sachs Group reissued a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Finally, Barclays increased their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.78.

AvalonBay Communities 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.