ExodusPoint Capital Management LP Grows Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

ExodusPoint Capital Management LP lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,729 shares of the real estate investment trust's stock after buying an additional 14,228 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.14% of AvalonBay Communities worth $43,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of AvalonBay Communities in the fourth quarter valued at $1,499,050,000. Wellington Management Group LLP increased its holdings in shares of AvalonBay Communities by 49.9% in the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after buying an additional 828,009 shares during the last quarter. State Street Corp raised its position in shares of AvalonBay Communities by 2.2% during the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust's stock valued at $2,097,971,000 after buying an additional 196,938 shares in the last quarter. Daiwa Securities Group Inc. grew its position in AvalonBay Communities by 51.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust's stock worth $121,927,000 after acquiring an additional 188,906 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AvalonBay Communities during the fourth quarter valued at approximately $35,153,000. Institutional investors own 92.61% of the company's stock.

Remove Ads

AvalonBay Communities Stock Performance

AVB traded up $4.18 during trading on Tuesday, reaching $192.99. 355,560 shares of the company's stock were exchanged, compared to its average volume of 682,898. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The company's fifty day simple moving average is $216.13 and its 200-day simple moving average is $221.27. The stock has a market capitalization of $27.45 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) 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 return on equity of 9.15% and a net margin of 37.13%. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business 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. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.63%. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI boosted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target on the stock. in a report on Friday. Mizuho raised shares of 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. Barclays cut their target price on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial increased their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $237.40.

AvalonBay Communities Company 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.