Alpine Bank Wealth Management Purchases New Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Alpine Bank Wealth Management acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 484 shares of the real estate investment trust’s stock, valued at approximately $104,000.

A number of other institutional investors have also recently bought and sold shares of the business. Baker Tilly Wealth Management LLC raised its stake in AvalonBay Communities by 1.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 58 shares in the last quarter. Golden State Equity Partners increased its holdings in AvalonBay Communities by 3.7% in the 1st quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 60 shares during the period. Signaturefd LLC raised its position in shares of AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 62 shares in the last quarter. Private Advisor Group LLC raised its position in shares of AvalonBay Communities by 2.6% in the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 63 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of AvalonBay Communities by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust’s stock worth $2,679,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 6,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the sale, the chief financial officer now directly owns 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the transaction, the executive vice president now directly owns 17,617 shares of the company’s stock, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

AVB has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of AvalonBay Communities from $226.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, May 15th. Piper Sandler decreased their price target on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their target price on AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating for the company in a research note on Tuesday, June 17th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $235.86.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $201.53 on Thursday. The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.80 and a beta of 0.86. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. The company’s fifty day moving average is $205.64 and its 200 day moving average is $212.09. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. The firm had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same quarter in the previous year, the company posted $2.70 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.47%. AvalonBay Communities’s payout ratio is 87.17%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.