Ferguson Wellman Capital Management Inc. Has $56.61 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Ferguson Wellman Capital Management Inc. lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,331 shares of the real estate investment trust’s stock after selling 650 shares during the quarter. AvalonBay Communities accounts for approximately 1.1% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 26th biggest position. Ferguson Wellman Capital Management Inc. owned about 0.18% of AvalonBay Communities worth $56,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVB. Segment Wealth Management LLC lifted its position in shares of AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its position in shares of AvalonBay Communities by 2.7% during the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 50 shares in the last quarter. Tectonic Advisors LLC raised its holdings in shares of AvalonBay Communities by 2.7% in the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 50 shares in the last quarter. Finally, Mather Group LLC. raised its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AVB. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company upped their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Royal Bank of Canada cut their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Finally, Scotiabank boosted their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $227.06.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded down $2.36 during midday trading on Thursday, hitting $230.75. 13,791 shares of the company’s stock traded hands, compared to its average volume of 723,909. AvalonBay Communities, Inc. has a 1 year low of $166.60 and a 1 year high of $236.26. The firm has a fifty day moving average of $226.23 and a 200 day moving average of $212.05. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 3.36 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the prior year, the firm earned $2.66 EPS. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 2.95%. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Insider Activity

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The stock was 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 in the company, valued at approximately $20,367,689.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares of the company’s stock, valued at $26,051,508.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

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.