AvalonBay Communities, Inc. $AVB Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC significantly reduced its holdings in AvalonBay Communities, Inc. by 65.3% in the second quarter, owning 6,470 shares valued at approximately $1.32 million.
• Wall Street analysts have lowered their price targets for AvalonBay Communities' shares, with estimates ranging from $199.00 to $228.00, reflecting a cautious outlook with a consensus rating of "Hold."
• AvalonBay Communities announced a quarterly dividend of $1.75 per share, yielding about 3.6%, set to be paid on October 15th to shareholders on record by September 30th.

Procyon Advisors LLC lowered its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 65.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,470 shares of the real estate investment trust's stock after selling 12,189 shares during the period. Procyon Advisors LLC's holdings in AvalonBay Communities were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in AvalonBay Communities by 0.4% in the first quarter. Vanguard Group Inc. now owns 22,672,682 shares of the real estate investment trust's stock worth $4,866,011,000 after purchasing an additional 96,790 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AvalonBay Communities by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust's stock worth $1,184,712,000 after purchasing an additional 367,853 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in AvalonBay Communities by 3.9% in the first quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust's stock worth $818,653,000 after purchasing an additional 143,646 shares during the last quarter. Northern Trust Corp raised its stake in shares of AvalonBay Communities by 5.2% during the first quarter. Northern Trust Corp now owns 2,779,484 shares of the real estate investment trust's stock valued at $596,533,000 after acquiring an additional 136,741 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of AvalonBay Communities by 4.2% during the first quarter. Wellington Management Group LLP now owns 2,594,073 shares of the real estate investment trust's stock valued at $556,740,000 after acquiring an additional 105,098 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays decreased their price target on shares of AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Mizuho reaffirmed a "neutral" rating and set a $199.00 price target (down previously from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Evercore ISI lifted their price target on shares of AvalonBay Communities from $212.00 to $216.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Truist Financial raised shares of AvalonBay Communities from a "hold" rating to a "buy" rating and decreased their price target for the company from $224.00 to $218.00 in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, AvalonBay Communities has an average rating of "Hold" and a consensus price target of $218.42.

AvalonBay Communities Price Performance

Shares of AVB traded down $0.46 during mid-day trading on Friday, hitting $193.17. 1,878,908 shares of the company were exchanged, compared to its average volume of 761,469. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. The company has a 50 day moving average of $193.81 and a 200-day moving average of $201.51. The stock has a market cap of $27.50 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.02. The company had revenue of $689.90 million during the quarter, compared to the consensus estimate of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same quarter in the prior year, the firm earned $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. Analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $1.75 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.6%. AvalonBay Communities's dividend payout ratio is presently 86.21%.

AvalonBay Communities Company 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.