OFI Invest Asset Management bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 3,624 shares of the real estate investment trust's stock, valued at approximately $770,000.
Several other hedge funds have also modified their holdings of the stock. Naviter Wealth LLC increased its holdings in AvalonBay Communities by 9.5% during the 4th quarter. Naviter Wealth LLC now owns 9,972 shares of the real estate investment trust's stock worth $2,210,000 after purchasing an additional 867 shares during the last quarter. Larson Financial Group LLC increased its holdings in AvalonBay Communities by 23.8% during the 4th quarter. Larson Financial Group LLC now owns 1,922 shares of the real estate investment trust's stock worth $423,000 after purchasing an additional 369 shares during the last quarter. Candriam S.C.A. increased its holdings in AvalonBay Communities by 0.9% during the 4th quarter. Candriam S.C.A. now owns 19,972 shares of the real estate investment trust's stock worth $4,393,000 after purchasing an additional 175 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in AvalonBay Communities during the 4th quarter worth approximately $35,153,000. Finally, Arizona State Retirement System increased its holdings in AvalonBay Communities by 1.4% during the 4th quarter. Arizona State Retirement System now owns 41,307 shares of the real estate investment trust's stock worth $9,086,000 after purchasing an additional 571 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.
AvalonBay Communities Stock Performance
AvalonBay Communities stock traded down $2.59 during mid-day trading on Thursday, hitting $207.45. 651,919 shares of the company's stock traded hands, compared to its average volume of 636,296. The firm has a 50 day moving average price of $218.41 and a 200 day moving average price of $223.57. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market cap of $29.51 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a one year low of $177.40 and a one year high of $239.29.
AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.
AvalonBay Communities Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a yield of 3.37%. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's payout ratio is presently 92.23%.
Wall Street Analyst Weigh In
Several research firms have issued reports on AVB. Piper Sandler dropped their price objective on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a research report on Thursday, November 14th. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Barclays decreased their target price 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. Finally, Royal Bank of Canada lifted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities has an average rating of "Moderate Buy" and an average target price of $238.64.
Read Our Latest Stock Analysis on AvalonBay Communities
AvalonBay Communities Profile
(
Free Report)
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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