Mutual of America Capital Management LLC Has $3.56 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Mutual of America Capital Management LLC reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 39.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,001 shares of the real estate investment trust’s stock after selling 12,197 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AvalonBay Communities were worth $3,557,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AVB. Norges Bank bought a new stake in AvalonBay Communities in the 4th quarter valued at $1,001,550,000. Wellington Management Group LLP lifted its position in AvalonBay Communities by 57.1% during the 1st quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock worth $531,516,000 after buying an additional 777,631 shares in the last quarter. JPMorgan Chase & Co. lifted its position in AvalonBay Communities by 18.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,863,429 shares of the real estate investment trust’s stock worth $817,348,000 after buying an additional 759,388 shares in the last quarter. Long Pond Capital LP lifted its position in AvalonBay Communities by 255.8% during the 4th quarter. Long Pond Capital LP now owns 767,824 shares of the real estate investment trust’s stock worth $124,019,000 after buying an additional 552,042 shares in the last quarter. Finally, State Street Corp lifted its position in AvalonBay Communities by 5.6% during the 1st quarter. State Street Corp now owns 10,087,597 shares of the real estate investment trust’s stock worth $1,711,547,000 after buying an additional 531,677 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $194.00 to $204.00 in a research report on Tuesday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $185.00 price target on shares of AvalonBay Communities in a research report on Friday, February 2nd. Morgan Stanley raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $191.50 in a research report on Monday, February 26th. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Finally, Wolfe Research lowered shares of AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $196.78.

Insider Activity at AvalonBay Communities

In related news, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $180.95 on Thursday. The company has a 50 day moving average of $180.81 and a 200-day moving average of $177.82. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The company has a market cap of $25.73 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The firm had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. During the same period last year, the company posted $2.59 EPS. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $1.70 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 annualized dividend and a yield of 3.76%. AvalonBay Communities’s dividend payout ratio is presently 103.82%.

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.