Sei Investments Co. Sells 306 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Sei Investments Co. cut its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 262,675 shares of the real estate investment trust’s stock after selling 306 shares during the period. Sei Investments Co. owned 0.18% of AvalonBay Communities worth $49,177,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arlington Trust Co LLC acquired a new position in shares of AvalonBay Communities during the fourth quarter worth approximately $45,000. Bear Mountain Capital Inc. bought a new stake in AvalonBay Communities in the 4th quarter valued at $66,000. Gold Investment Management Ltd. bought a new stake in AvalonBay Communities in the 4th quarter valued at $71,000. Blue Trust Inc. grew its position in AvalonBay Communities by 139.6% in the 4th quarter. Blue Trust Inc. now owns 539 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 314 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its position in AvalonBay Communities by 200.0% in the 4th quarter. PFG Private Wealth Management LLC now owns 555 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Mizuho lifted their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their price target on shares of AvalonBay Communities from $189.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Morgan Stanley raised their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $204.89.

View Our Latest Research Report on AVB

AvalonBay Communities Stock Up 1.1 %

NYSE AVB opened at $199.46 on Tuesday. The stock has a market capitalization of $28.36 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 2.88 and a beta of 0.94. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $200.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average of $191.18 and a 200-day moving average of $184.20.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same period in the previous year, the business posted $2.57 earnings per share. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 10.9 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a yield of 3.41%. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

AvalonBay Communities Company 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.

Further Reading

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

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