AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Strs Ohio

Strs Ohio cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,278 shares of the real estate investment trust's stock after selling 7,138 shares during the period. Strs Ohio owned about 0.12% of AvalonBay Communities worth $31,130,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in AvalonBay Communities during the 3rd quarter valued at about $26,000. Quarry LP grew its holdings in AvalonBay Communities by 255.6% during the 2nd quarter. Quarry LP now owns 192 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 138 shares during the last quarter. Castleview Partners LLC grew its holdings in AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 216 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in AvalonBay Communities by 316.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 171 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new position in AvalonBay Communities during the 4th quarter valued at about $45,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Down 1.0 %

NYSE:AVB traded down $1.72 during midday trading on Tuesday, reaching $179.00. 901,183 shares of the stock traded hands, compared to its average volume of 819,564. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $198.65. The business has a 50-day moving average of $180.66 and a two-hundred day moving average of $177.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $25.45 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.92.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. The firm had revenue of $704.71 million for the quarter, compared to analysts' expectations of $701.67 million. During the same period in the previous year, the company earned $2.59 EPS. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.70 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.80%. AvalonBay Communities's dividend payout ratio is presently 103.82%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares in the company, valued at approximately $4,054,985.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AvalonBay Communities news, CFO Kevin P. O'shea sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares in the company, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVB has been the topic of several analyst reports. Truist Financial cut their price target on shares of AvalonBay Communities from $201.00 to $197.00 and set a "hold" rating on the stock in a report on Tuesday, April 9th. Morgan Stanley raised shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $191.50 in a research report on Monday, February 26th. Mizuho lowered their price objective on shares of AvalonBay Communities from $188.00 to $185.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. Wolfe Research cut shares of AvalonBay Communities from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, January 2nd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities currently has an average rating of "Hold" and an average target price of $196.78.

AvalonBay Communities 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.