SVB Wealth LLC Sells 284 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

SVB Wealth LLC decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,467 shares of the real estate investment trust’s stock after selling 284 shares during the quarter. SVB Wealth LLC’s holdings in AvalonBay Communities were worth $1,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC raised its holdings in AvalonBay Communities by 8.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $369,000 after acquiring an additional 113 shares during the period. Private Advisor Group LLC increased its stake in shares of AvalonBay Communities by 18.0% during the first quarter. Private Advisor Group LLC now owns 2,007 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 306 shares during the period. Prudential PLC acquired a new stake in AvalonBay Communities during the 1st quarter worth approximately $704,000. Cetera Investment Advisers boosted its stake in AvalonBay Communities by 54.4% in the 1st quarter. Cetera Investment Advisers now owns 5,260 shares of the real estate investment trust’s stock valued at $1,306,000 after purchasing an additional 1,853 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its holdings in AvalonBay Communities by 7.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 12,461 shares of the real estate investment trust’s stock valued at $3,095,000 after buying an additional 901 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVB shares. Wolfe Research downgraded AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Mizuho cut their price objective on shares of 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 reaffirmed a “neutral” rating and set a $191.00 target price on shares of AvalonBay Communities in a report on Thursday, February 22nd. Truist Financial cut their price target on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.78.

Insider Transactions at AvalonBay Communities

In related news, CFO Kevin P. O’shea sold 5,000 shares of the company’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 value of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were 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 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 is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $182.05 on Friday. The business has a 50 day moving average of $180.96 and a 200-day moving average of $177.85. The company has a market capitalization of $25.88 billion, a P/E ratio of 27.79, a P/E/G ratio of 3.33 and a beta of 0.92. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year 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 released 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). AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. The business had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. During the same period in the previous year, the business posted $2.59 EPS. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.70 dividend. This is a boost 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 annualized dividend and a dividend yield of 3.74%. AvalonBay Communities’s dividend payout ratio is presently 103.82%.

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.