MML Investors Services LLC Raises Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

MML Investors Services LLC lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 19.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,005 shares of the real estate investment trust’s stock after buying an additional 489 shares during the period. MML Investors Services LLC’s holdings in AvalonBay Communities were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities during the third quarter worth $26,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth about $39,000. Mather Group LLC. grew its stake in AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $51,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in AvalonBay Communities by 731.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 291 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVB. BNP Paribas started coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Evercore ISI raised their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada reduced their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company raised their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $231.33.

Insider Buying and Selling

In related news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the sale, the director now owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company insiders.

AvalonBay Communities Trading Up 2.3 %

AVB opened at $222.17 on Friday. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $31.60 billion, a PE ratio of 30.39, a P/E/G ratio of 3.30 and a beta of 0.98. The firm’s fifty day moving average price is $227.60 and its 200 day moving average price is $218.46.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the previous year, the business posted $2.66 EPS. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.06%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

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.