Avalon Trust Co Reduces Position in AvalonBay Communities, Inc. (NYSE:AVB)

Avalon Trust Co cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,330 shares of the real estate investment trust’s stock after selling 515 shares during the period. Avalon Trust Co’s holdings in AvalonBay Communities were worth $15,470,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities in the third quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the fourth quarter worth about $36,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities in the third quarter worth about $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the third quarter worth about $51,000. Finally, Catalyst Capital Advisors LLC boosted its position in AvalonBay Communities by 312.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVB shares. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Finally, Piper Sandler decreased their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Stock Up 0.8 %

Shares of AVB opened at $209.55 on Friday. The business’s 50 day moving average is $218.02 and its 200 day moving average is $223.40. The company has a market capitalization of $29.81 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 12-month low of $177.40 and a 12-month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

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.