New Age Alpha Advisors LLC Acquires 37,736 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

New Age Alpha Advisors LLC grew its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 53,908.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,806 shares of the real estate investment trust's stock after buying an additional 37,736 shares during the quarter. New Age Alpha Advisors LLC's holdings in AvalonBay Communities were worth $8,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth approximately $215,000. The Manufacturers Life Insurance Company boosted its holdings in AvalonBay Communities by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 112,392 shares of the real estate investment trust's stock valued at $25,316,000 after purchasing an additional 2,702 shares during the period. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $39,000. BNP Paribas Financial Markets raised its stake in AvalonBay Communities by 54.8% in the third quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust's stock valued at $58,459,000 after purchasing an additional 91,861 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in AvalonBay Communities by 42.0% during the third quarter. Townsquare Capital LLC now owns 4,900 shares of the real estate investment trust's stock worth $1,104,000 after buying an additional 1,450 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Down 0.2 %

Shares of AVB stock traded down $0.50 during mid-day trading on Tuesday, hitting $214.13. The company's stock had a trading volume of 186,876 shares, compared to its average volume of 668,404. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The company's fifty day simple moving average is $217.43 and its 200-day simple moving average is $222.27. The company has a market cap of $30.46 billion, a PE ratio of 28.37, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued 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%. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.27%. 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 is 92.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays dropped their price objective on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Piper Sandler dropped their price target on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Royal Bank of Canada raised their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. Evercore ISI increased 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. Finally, Morgan Stanley cut AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.64.

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.