2 weeks Ago By ABMN Staff
Duff & Phelps Investment Management Co. reduced its position in AvalonBay Communities, Inc. ( NYSE:AVB – Free Report ) by 4.
2% during the second quarter, Holdings Channel reports. The institutional investor owned 823,307 shares of the real estate investment trust’s stock after selling 36,540 shares during the quarter. AvalonBay Communities comprises 2.
2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 5th largest holding. Duff & Phelps Investment Management Co.
’s holdings in AvalonBay Communities were worth $170,334,000 as of its most recent SEC filing. A number of other institutional investors and hedge funds have also recently modified their holdings of AVB. SYSTM Wealth Solutions LLC grew its stake in AvalonBay Communities by 2.
7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 49 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of AvalonBay Communities by 4.
6% during the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 59 shares during the last quarter. Mechanics Bank Trust Department increased its holdings in shares of AvalonBay Communities by 0.
3% during the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after acquiring an additional 60 shares in the last quarter. SVB Wealth LLC raised its position in shares of AvalonBay Communities by 1.
1% in the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after purchasing an additional 62 shares during the last quarter. Finally, Profund Advisors LLC raised its position in shares of AvalonBay Communities by 2.
9% in the 2nd quarter. Profund Advisors LLC now owns 2,202 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 92.
61% of the company’s stock. Insider Activity In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th.
The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00.
Following the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link .
In other news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.
17, for a total value of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.
11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website . Also, CIO Matthew H.
Birenbaum sold 5,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.
00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30.
The disclosure for this sale can be found here . Company insiders own 0.42% of the company’s stock.
AvalonBay Communities Stock Performance AvalonBay Communities ( NYSE:AVB – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.
71 by ($0.93). AvalonBay Communities had a return on equity of 7.
16% and a net margin of 29.61%. The firm had revenue of $726.
04 million during the quarter, compared to analyst estimates of $718.49 million. During the same quarter last year, the company posted $2.
66 EPS. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.
01 earnings per share for the current year. AvalonBay Communities Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $1.
70 dividend. This represents a $6.80 annualized dividend and a yield of 3.
02%. The ex-dividend date of this dividend is Monday, September 30th. AvalonBay Communities’s payout ratio is currently 101.
19%. Analyst Ratings Changes A number of research analysts have issued reports on AVB shares. Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $222.
00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.
00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th.
UBS Group boosted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th.
Finally, JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.
00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $223.
12. Check Out Our Latest Analysis on AVB 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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