Larson Financial Group LLC Acquires 1,499 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Larson Financial Group LLC raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2,775.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,553 shares of the real estate investment trust’s stock after acquiring an additional 1,499 shares during the quarter. Larson Financial Group LLC’s holdings in AvalonBay Communities were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the second quarter valued at about $32,000. Versant Capital Management Inc lifted its position 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 buying an additional 169 shares during the last quarter. Mather Group LLC. lifted its position in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $51,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 73 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.1 %

AVB stock opened at $235.45 on Wednesday. The company has a market capitalization of $33.49 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 3.39 and a beta of 0.97. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $236.49. The firm’s fifty day simple moving average is $226.45 and its 200-day simple moving average is $214.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the previous year, the company posted $2.66 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 2.89%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the sale, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVB shares. Deutsche Bank Aktiengesellschaft increased their target price 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. Piper Sandler raised their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank decreased their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, BNP Paribas started coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has an average 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.