Baker Tilly Wealth Management LLC Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Baker Tilly Wealth Management LLC increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,189 shares of the real estate investment trust’s stock after purchasing an additional 312 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in AvalonBay Communities were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of AvalonBay Communities during the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in shares of AvalonBay Communities during the 3rd quarter worth $39,000. Mather Group LLC. boosted its holdings in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of AvalonBay Communities in the third quarter valued at $51,000. Finally, EverSource Wealth Advisors LLC increased its stake in AvalonBay Communities by 368.3% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 453 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 0.7 %

Shares of NYSE AVB traded up $1.48 during trading on Friday, reaching $213.85. 171,190 shares of the stock were exchanged, compared to its average volume of 415,708. The company has a market capitalization of $30.42 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99. The business’s 50-day moving average price is $225.46 and its 200 day moving average price is $220.09. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a twelve month low of $169.37 and a twelve month high of $239.29.

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

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

Insider Activity

In other news, Director Timothy J. Naughton sold 2,261 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AVB shares. Scotiabank decreased their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Evercore ISI lifted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Barclays initiated coverage on AvalonBay Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $243.00 price objective for the company. Finally, Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $239.00 to $242.00 in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.53.

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.