Boston Trust Walden Corp Has $14.86 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Boston Trust Walden Corp boosted its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 79,349 shares of the real estate investment trust's stock after acquiring an additional 9,330 shares during the period. Boston Trust Walden Corp owned about 0.06% of AvalonBay Communities worth $14,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $1,001,550,000. Wellington Management Group LLP boosted its holdings in shares of AvalonBay Communities by 57.1% in the 1st quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust's stock valued at $531,516,000 after purchasing an additional 777,631 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AvalonBay Communities by 18.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,863,429 shares of the real estate investment trust's stock valued at $817,348,000 after purchasing an additional 759,388 shares during the last quarter. Long Pond Capital LP lifted its holdings in shares of AvalonBay Communities by 255.8% during the 4th quarter. Long Pond Capital LP now owns 767,824 shares of the real estate investment trust's stock valued at $124,019,000 after acquiring an additional 552,042 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of AvalonBay Communities by 5.6% during the 1st quarter. State Street Corp now owns 10,087,597 shares of the real estate investment trust's stock valued at $1,711,547,000 after acquiring an additional 531,677 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AvalonBay Communities

In related news, EVP Joanne M. Lockridge sold 1,750 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company's stock, valued at approximately $4,054,985.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company's stock, valued at approximately $4,054,985.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin P. O'shea sold 5,000 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares of the company's stock, valued at approximately $5,812,330.20. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.

AvalonBay Communities Stock Up 0.5 %

Shares of AVB traded up $0.91 during midday trading on Friday, hitting $181.08. The company had a trading volume of 391,931 shares, compared to its average volume of 620,175. The company's 50 day moving average price is $179.48 and its 200 day moving average price is $177.40. The stock has a market cap of $25.75 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 3.35 and a beta of 0.92. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $198.65. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($1.03). The company had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same period in the previous year, the firm posted $2.59 EPS. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 10.82 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, March 27th. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.65. AvalonBay Communities's dividend payout ratio is currently 103.82%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $191.00 target price on shares of AvalonBay Communities in a report on Thursday, February 22nd. Mizuho reduced their target price on shares of AvalonBay Communities from $188.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a report on Tuesday, January 30th. They set a "buy" rating and a $206.00 target price on the stock. Barclays upgraded shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $194.00 to $204.00 in a report on Tuesday, February 20th. Finally, Truist Financial reduced their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a "hold" rating on the stock in a report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $197.03.

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.