RWA Wealth Partners LLC Acquires 259 Shares of AvalonBay Communities, Inc. $AVB

RWA Wealth Partners LLC lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,677 shares of the real estate investment trust’s stock after buying an additional 259 shares during the period. RWA Wealth Partners LLC’s holdings in AvalonBay Communities were worth $4,867,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock valued at $1,133,328,000 after acquiring an additional 1,336,698 shares during the period. Nuveen LLC acquired a new stake in shares of AvalonBay Communities in the 1st quarter valued at $280,226,000. Northern Trust Corp boosted its stake in shares of AvalonBay Communities by 54.8% in the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock valued at $581,324,000 after purchasing an additional 935,770 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of AvalonBay Communities by 21,024.3% in the 1st quarter. GAMMA Investing LLC now owns 550,500 shares of the real estate investment trust’s stock worth $118,148,000 after purchasing an additional 547,894 shares during the last quarter. Finally, Adelante Capital Management LLC increased its position in shares of AvalonBay Communities by 1,186.4% during the 4th quarter. Adelante Capital Management LLC now owns 400,444 shares of the real estate investment trust’s stock worth $88,086,000 after purchasing an additional 369,316 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVB has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Mizuho reissued a “neutral” rating and issued a $199.00 target price (down from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Piper Sandler restated a “neutral” rating and set a $200.00 price target (down from $255.00) on shares of AvalonBay Communities in a research report on Monday, August 4th. Barclays dropped their price target on AvalonBay Communities from $241.00 to $228.00 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Finally, Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $228.00 to $225.00 in a research note on Wednesday, August 13th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $225.64.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $188.43 on Tuesday. The stock has a market cap of $26.83 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.73 and a beta of 0.86. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business’s 50-day simple moving average is $199.29 and its 200 day simple moving average is $206.03.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.02. The company had revenue of $689.90 million for the quarter, compared to analyst estimates of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same quarter last year, the firm earned $2.77 EPS. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $1.75 per share. The ex-dividend date was Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s payout ratio is presently 86.21%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin P. O’shea sold 6,000 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the transaction, the chief financial officer owned 22,782 shares of the company’s stock, valued at $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

AvalonBay Communities Profile

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.