AlphaCore Capital LLC Purchases New Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Key Points

• AlphaCore Capital LLC acquired a new stake in AvalonBay Communities, purchasing 2,035 shares valued at approximately $440,000 during the first quarter.
• Institutional investors currently own 92.61% of AvalonBay Communities stock, indicating strong institutional support for the real estate investment trust.
• AvalonBay recently declared a dividend of $1.75 per share, with a 3.7% annual yield, reflecting its commitment to returning value to shareholders.

AlphaCore Capital LLC purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,035 shares of the real estate investment trust's stock, valued at approximately $440,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proathlete Wealth Management LLC bought a new position in AvalonBay Communities during the first quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities during the first quarter valued at about $33,000. Ancora Advisors LLC increased its stake in AvalonBay Communities by 1,666.7% during the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in AvalonBay Communities during the fourth quarter valued at about $53,000. Finally, Continuum Advisory LLC increased its stake in AvalonBay Communities by 12,200.0% during the fourth quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 244 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Evercore ISI lowered their price objective on AvalonBay Communities from $229.00 to $216.00 and set an "in-line" rating on the stock in a research note on Monday, August 4th. Morgan Stanley upped their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Barclays upped their price objective on AvalonBay Communities from $240.00 to $241.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Mizuho reduced their target price on AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $228.79.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the sale, the chief financial officer owned 22,782 shares in the company, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares of the company's stock, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company's stock.

AvalonBay Communities Stock Down 0.8%

NYSE:AVB opened at $186.74 on Friday. The stock's fifty day moving average price is $201.24 and its two-hundred day moving average price is $207.33. AvalonBay Communities, Inc. has a 52-week low of $180.40 and a 52-week high of $239.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $26.59 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 2.51 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.02. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%. The firm had revenue of $689.90 million for the quarter, compared to the consensus estimate of $759.08 million. During the same quarter in the prior year, the business earned $2.77 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $1.75 per share. The ex-dividend date was Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities's payout ratio is presently 86.21%.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.

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