Grassi Investment Management Has $745,000 Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Grassi Investment Management trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,385 shares of the real estate investment trust’s stock after selling 250 shares during the quarter. Grassi Investment Management’s holdings in AvalonBay Communities were worth $745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVB. Choreo LLC acquired a new position in AvalonBay Communities in the 2nd quarter valued at $450,000. DekaBank Deutsche Girozentrale grew its holdings in AvalonBay Communities by 10.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 111,107 shares of the real estate investment trust’s stock valued at $22,664,000 after buying an additional 10,773 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of AvalonBay Communities by 30.2% during the 2nd quarter. Meeder Advisory Services Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $401,000 after purchasing an additional 449 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of AvalonBay Communities by 8.1% during the 2nd quarter. Federated Hermes Inc. now owns 7,730 shares of the real estate investment trust’s stock worth $1,599,000 after purchasing an additional 580 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of AvalonBay Communities by 11.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,638 shares of the real estate investment trust’s stock worth $1,166,000 after purchasing an additional 563 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the firm’s 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 transaction, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Trading Up 2.2 %

AvalonBay Communities stock traded up $4.63 during trading hours on Monday, hitting $215.40. The stock had a trading volume of 201,894 shares, compared to its average volume of 484,839. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 3.30 and a beta of 0.99. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The business’s 50 day simple moving average is $225.35 and its 200-day simple moving average is $220.35.

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

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Barclays began coverage on AvalonBay Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $243.00 target price on the stock. Royal Bank of Canada reduced their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI raised their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $239.00 to $242.00 in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Moderate Buy” and a consensus price target of $234.53.

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.