Caprock Group LLC Acquires Shares of 1,083 AvalonBay Communities, Inc. (NYSE:AVB)

Caprock Group LLC acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,083 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new position in shares of AvalonBay Communities in the third quarter worth $26,000. Quarry LP boosted its holdings in shares of 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 acquiring an additional 138 shares during the period. Ronald Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 171 shares during the period. Castleview Partners LLC boosted its holdings in shares of 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 acquiring an additional 216 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in AvalonBay Communities during the first quarter valued at $69,000. 92.61% of the stock is owned by institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 in the company, valued at $5,812,330.20. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

AVB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on AvalonBay Communities in a research note on Tuesday, January 30th. They set a “buy” rating and a $206.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $207.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, March 26th. Wolfe Research lowered AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Finally, Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $191.50 in a research note on Monday, February 26th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $197.03.

Read Our Latest Stock Report on AvalonBay Communities

AvalonBay Communities Stock Performance

Shares of AVB opened at $179.85 on Wednesday. The business’s fifty day simple moving average is $179.24 and its two-hundred day simple moving average is $177.40. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 3.45 and a beta of 0.92.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing the consensus estimate of $2.73 by ($1.03). AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. The business had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. During the same quarter in the prior year, the business posted $2.59 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 10.82 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.78%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date is Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.82%.

AvalonBay Communities Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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