Victory Capital Management Inc. Sells 225 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Victory Capital Management Inc. decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,705 shares of the real estate investment trust’s stock after selling 225 shares during the period. Victory Capital Management Inc. owned about 0.11% of AvalonBay Communities worth $34,397,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AVB. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its holdings in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 169 shares during the period. BROOKFIELD Corp ON acquired a new stake in shares of AvalonBay Communities in the 1st quarter valued at $39,000. Mather Group LLC. grew its holdings in shares of AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

AVB stock opened at $229.41 on Friday. AvalonBay Communities, Inc. has a twelve month low of $166.60 and a twelve month high of $236.26. The company has a quick ratio of 2.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market cap of $32.63 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The business’s fifty day moving average is $226.38 and its 200-day moving average is $212.43.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter last year, the business posted $2.66 EPS. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the sale, the director now directly owns 111,436 shares in the company, valued at $26,051,508.08. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Evercore ISI increased their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada cut their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $226.88.

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.