Calamos Advisors LLC Sells 655 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Calamos Advisors LLC lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,149 shares of the real estate investment trust’s stock after selling 655 shares during the period. Calamos Advisors LLC’s holdings in AvalonBay Communities were worth $9,389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in AvalonBay Communities during the third quarter worth about $3,610,000. Ferguson Wellman Capital Management Inc. raised its holdings in AvalonBay Communities by 2.1% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock worth $46,561,000 after acquiring an additional 5,061 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in AvalonBay Communities by 2.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 994,505 shares of the real estate investment trust’s stock worth $186,191,000 after acquiring an additional 21,760 shares in the last quarter. Sterling Investment Management LLC bought a new stake in AvalonBay Communities during the fourth quarter worth about $1,625,000. Finally, Glenmede Trust Co. NA raised its holdings in AvalonBay Communities by 55.5% during the third quarter. Glenmede Trust Co. NA now owns 2,890 shares of the real estate investment trust’s stock worth $496,000 after acquiring an additional 1,031 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AVB has been the topic of several analyst reports. Truist Financial dropped their target price on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target on the stock. 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. Finally, Morgan Stanley raised 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. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $196.78.

AvalonBay Communities Trading Up 1.2 %

Shares of NYSE:AVB opened at $184.13 on Friday. The company has a market capitalization of $26.18 billion, a P/E ratio of 28.11, a P/E/G ratio of 3.39 and a beta of 0.92. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $198.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50 day simple moving average is $181.15 and its 200 day simple moving average is $177.96.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The company had revenue of $704.71 million for the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same period in the prior year, the company earned $2.59 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 10.8 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.69%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

AvalonBay Communities Company 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.