Delphi Management Inc. MA Acquires 605 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Delphi Management Inc. MA increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,903 shares of the real estate investment trust’s stock after purchasing an additional 605 shares during the quarter. AvalonBay Communities accounts for 1.5% of Delphi Management Inc. MA’s portfolio, making the stock its 12th biggest holding. Delphi Management Inc. MA’s holdings in AvalonBay Communities were worth $1,842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVB. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities during the second quarter valued at $32,000. Versant Capital Management Inc lifted its holdings in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities during the first quarter valued at $39,000. Pinnacle Bancorp Inc. increased its position in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 73 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Insider Transactions at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related 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 completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AVB. BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Royal Bank of Canada upped their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Piper Sandler upped their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $223.12.

AvalonBay Communities Stock Performance

NYSE AVB opened at $225.29 on Tuesday. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $219.58 and a 200-day moving average price of $203.14. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26.

AvalonBay Communities (NYSE:AVB) last released 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). The business had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same period last year, the company earned $2.66 EPS. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 101.19%.

About AvalonBay Communities

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.