AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,117,105 shares of the real estate investment trust’s stock after selling 181,081 shares during the period. Wellington Management Group LLP owned 1.49% of AvalonBay Communities worth $396,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AVB. Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth $45,000. Bear Mountain Capital Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter worth about $66,000. Gold Investment Management Ltd. bought a new position in shares of AvalonBay Communities during the fourth quarter worth about $71,000. Blue Trust Inc. grew its position in shares of AvalonBay Communities by 139.6% during the fourth quarter. Blue Trust Inc. now owns 539 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 314 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its position in shares of AvalonBay Communities by 200.0% during the fourth quarter. PFG Private Wealth Management LLC now owns 555 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 370 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $201.60 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $202.12. The firm has a market cap of $28.66 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.94. The company has a 50-day moving average of $193.01 and a 200-day moving average of $185.17.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The firm had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same period in the prior year, the company posted $2.57 earnings per share. Analysts forecast that AvalonBay Communities, Inc. will post 10.9 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

Wall Street Analysts Forecast Growth

AVB has been the subject of several recent research reports. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $189.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. UBS Group upped their price target on shares of AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Argus increased their target price on shares of AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $205.89.

About AvalonBay Communities

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.