Mutual of America Capital Management LLC Decreases Position in AvalonBay Communities, Inc. (NYSE:AVB)

Mutual of America Capital Management LLC lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 1.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,198 shares of the real estate investment trust’s stock after selling 501 shares during the period. Mutual of America Capital Management LLC’s holdings in AvalonBay Communities were worth $5,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. bought a new stake in AvalonBay Communities during the third quarter worth about $26,000. Quarry LP raised its stake in AvalonBay Communities by 255.6% during the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 138 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of AvalonBay Communities by 42.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 222 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 66 shares in the last quarter. Ronald Blue Trust Inc. boosted its stake in AvalonBay Communities by 316.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 171 shares in the last quarter. Finally, Castleview Partners LLC grew its position in AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 216 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVB has been the subject of several recent analyst reports. Mizuho lifted their target price on shares of AvalonBay Communities from $176.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. TheStreet downgraded AvalonBay Communities from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on AvalonBay Communities in a report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target on the stock. Evercore ISI lifted their price objective on AvalonBay Communities from $183.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 30th. Finally, KeyCorp restated a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $196.06.

View Our Latest Research Report on AvalonBay Communities

AvalonBay Communities Trading Up 0.1 %

Shares of AVB stock opened at $174.63 on Monday. The company has a market cap of $24.80 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.24 and a beta of 0.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50 day simple moving average is $181.20 and its two-hundred day simple moving average is $177.94. AvalonBay Communities, Inc. has a 1 year low of $153.07 and a 1 year high of $198.65.

AvalonBay Communities (NYSE:AVBGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($1.03). The company had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter in the previous year, the company posted $2.59 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio (DPR) is 100.76%.

About AvalonBay Communities

(Free Report)

As of September 30, 2023, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 89,240 apartment homes in 12 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. 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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Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVBFree Report).

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

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