Mutual of America Capital Management LLC Has $3.56 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Mutual of America Capital Management LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 39.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,001 shares of the real estate investment trust's stock after selling 12,197 shares during the quarter. Mutual of America Capital Management LLC's holdings in AvalonBay Communities were worth $3,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new position in AvalonBay Communities in the third quarter worth $26,000. Quarry LP boosted its holdings in AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 138 shares during the period. Ronald Blue Trust Inc. boosted its holdings in AvalonBay Communities by 316.7% in the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 171 shares during the period. Castleview Partners LLC boosted its holdings in AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 216 shares during the period. Finally, Arlington Trust Co LLC acquired a new position in AvalonBay Communities in the fourth quarter worth $45,000. Institutional investors and hedge funds own 92.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVB. Barclays raised shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $194.00 to $204.00 in a report on Tuesday, February 20th. Truist Financial dropped their price target on AvalonBay Communities from $201.00 to $197.00 and set a "hold" rating on the stock in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a research note on Tuesday, January 30th. They issued a "buy" rating and a $206.00 price target on the stock. Mizuho dropped their price target on AvalonBay Communities from $188.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 28th. Finally, KeyCorp reissued a "sector weight" rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $196.78.

Insiders Place Their Bets

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company's stock, valued at $4,054,985.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Kevin P. O'shea sold 5,000 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares of the company's stock, valued at $5,812,330.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company's stock, valued at $4,054,985.70. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

AvalonBay Communities Stock Up 0.6 %

NYSE:AVB traded up $1.10 during mid-day trading on Thursday, reaching $182.05. The stock had a trading volume of 671,424 shares, compared to its average volume of 817,199. The business's 50 day moving average is $180.81 and its 200 day moving average is $177.82. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $198.65. The stock has a market cap of $25.88 billion, a P/E ratio of 27.63, a PEG ratio of 3.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.73 by ($1.03). The company had revenue of $704.71 million for 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 company earned $2.59 EPS. As a group, sell-side analysts predict that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $1.70 per share. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.74%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.65. AvalonBay Communities's dividend payout ratio is presently 103.82%.

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.