Portfolio Design Labs LLC Increases Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Portfolio Design Labs LLC grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 27.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,356 shares of the real estate investment trust's stock after acquiring an additional 4,747 shares during the period. AvalonBay Communities comprises about 1.0% of Portfolio Design Labs LLC's portfolio, making the stock its 21st largest holding. Portfolio Design Labs LLC's holdings in AvalonBay Communities were worth $4,918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AVB. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities in the third quarter worth $26,000. Brooklyn Investment Group bought a new stake in AvalonBay Communities during the third quarter worth approximately $39,000. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the 3rd quarter valued at $51,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of AvalonBay Communities by 59.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust's stock valued at $105,000 after acquiring an additional 179 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in AvalonBay Communities in the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock traded down $2.13 on Friday, reaching $217.97. The stock had a trading volume of 741,056 shares, compared to its average volume of 650,565. The business's 50 day moving average is $219.58 and its two-hundred day moving average is $222.49. The company has a market cap of $31.00 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.10 and a beta of 0.99. AvalonBay Communities, Inc. has a 1 year low of $172.85 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 released its quarterly 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%. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.53 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, March 31st. AvalonBay Communities's dividend payout ratio (DPR) is presently 89.59%.

Analyst Ratings Changes

A number of research firms recently weighed in on AVB. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday. Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Scotiabank lowered their price objective 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. Piper Sandler dropped their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $236.00 to $223.00 in a research report on Friday, January 24th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.73.

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.