AvalonBay Communities, Inc. (NYSE:AVB) Sees Significant Decline in Short Interest

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,830,000 shares, a decline of 17.5% from the March 15th total of 3,430,000 shares. Approximately 2.0% of the company's shares are sold short. Based on an average daily volume of 738,500 shares, the short-interest ratio is currently 3.8 days.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $202.93 on Friday. The business has a 50 day moving average price of $211.08 and a two-hundred day moving average price of $219.06. AvalonBay Communities has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The firm has a market cap of $28.89 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly 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%. Sell-side analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.75 per share. The ex-dividend date was Monday, March 31st. This represents a $7.00 annualized dividend and a yield of 3.45%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AVB shares. BMO Capital Markets lowered AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target on the stock. in a research note on Friday, April 4th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. Royal Bank of Canada increased their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. Piper Sandler lowered their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Finally, Mizuho raised AvalonBay Communities from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.47.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Great Lakes Retirement Inc. raised its position in shares of AvalonBay Communities by 3.2% during the 1st quarter. Great Lakes Retirement Inc. now owns 6,354 shares of the real estate investment trust's stock valued at $1,375,000 after acquiring an additional 195 shares in the last quarter. Tuttle Capital Management LLC raised its holdings in shares of AvalonBay Communities by 26.7% during the first quarter. Tuttle Capital Management LLC now owns 2,450 shares of the real estate investment trust's stock worth $526,000 after purchasing an additional 517 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of AvalonBay Communities by 9.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,739 shares of the real estate investment trust's stock worth $588,000 after buying an additional 226 shares during the last quarter. Pacific Sun Financial Corp bought a new position in shares of AvalonBay Communities in the 1st quarter worth about $257,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 92.61% of the company's stock.

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.

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