Cibc World Markets Corp Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Cibc World Markets Corp lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,781 shares of the real estate investment trust's stock after purchasing an additional 6,934 shares during the quarter. Cibc World Markets Corp's holdings in AvalonBay Communities were worth $14,030,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Apollon Wealth Management LLC increased its holdings in AvalonBay Communities by 10.4% in the third quarter. Apollon Wealth Management LLC now owns 1,112 shares of the real estate investment trust's stock valued at $251,000 after buying an additional 105 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of AvalonBay Communities by 35.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,652 shares of the real estate investment trust's stock worth $1,724,000 after acquiring an additional 2,014 shares during the period. OneDigital Investment Advisors LLC increased its stake in AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust's stock valued at $280,000 after purchasing an additional 55 shares in the last quarter. CIBC Asset Management Inc boosted its position in AvalonBay Communities by 8.4% during the third quarter. CIBC Asset Management Inc now owns 21,666 shares of the real estate investment trust's stock worth $4,880,000 after purchasing an additional 1,679 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in AvalonBay Communities by 10.3% during the third quarter. Empowered Funds LLC now owns 2,337 shares of the real estate investment trust's stock worth $526,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

Remove Ads

AvalonBay Communities Stock Down 0.9 %

NYSE:AVB traded down $2.01 during mid-day trading on Friday, hitting $209.49. The company had a trading volume of 1,486,933 shares, compared to its average volume of 667,622. The business has a fifty day simple moving average of $217.93 and a 200-day simple moving average of $223.04. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year 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 - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 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%. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.34%. AvalonBay Communities's dividend payout ratio is 92.23%.

Analysts Set New Price Targets

AVB has been the topic of several recent research reports. Piper Sandler decreased their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Truist Financial increased their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Evercore ISI upped their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Finally, Morgan Stanley downgraded AvalonBay Communities from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $238.64.

AvalonBay Communities Profile

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.