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

Victory Capital Management Inc. cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 0.1% in the third quarter, Holdings Channel.com reports. The firm owned 152,705 shares of the real estate investment trust’s stock after selling 225 shares during the quarter. Victory Capital Management Inc.’s holdings in AvalonBay Communities were worth $34,397,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AVB. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc raised its position in AvalonBay Communities by 1,877.8% in the 2nd 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. BROOKFIELD Corp ON acquired a new stake in AvalonBay Communities in the 1st quarter valued at approximately $39,000. Mather Group LLC. lifted its stake in AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in 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 acquiring an additional 73 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AVB. Royal Bank of Canada lowered their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective 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. JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Evercore ISI increased their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $226.88.

AvalonBay Communities Trading Up 0.6 %

AVB stock opened at $229.41 on Friday. AvalonBay Communities, Inc. has a one year low of $166.60 and a one year high of $236.26. The stock has a market cap of $32.63 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The company has a fifty day moving average price of $226.38 and a two-hundred day moving average price of $212.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last announced its 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 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 period in the previous year, the firm posted $2.66 EPS. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.96%. AvalonBay Communities’s payout ratio is currently 93.02%.

About AvalonBay Communities

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.