Thompson Siegel & Walmsley LLC Lowers Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Thompson Siegel & Walmsley LLC reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 69.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the real estate investment trust’s stock after selling 33,200 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in AvalonBay Communities were worth $3,266,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc grew its position in 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 buying an additional 169 shares during the period. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities in the first quarter valued at $39,000. Mather Group LLC. raised its position in shares of AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 56 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth about $51,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of analyst reports. Scotiabank reduced their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Piper Sandler lifted their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada cut their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.88.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Stock Up 0.6 %

Shares of NYSE:AVB opened at $231.94 on Friday. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $236.26. The stock has a market cap of $32.99 billion, a P/E ratio of 31.73, a PEG ratio of 3.35 and a beta of 0.97. The business has a fifty day moving average of $226.36 and a two-hundred day moving average of $213.76. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. During the same period in the prior year, the company posted $2.66 EPS. On average, research analysts expect that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s payout ratio is presently 93.02%.

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.