Proficio Capital Partners LLC Buys Shares of 106,893 AvalonBay Communities, Inc. (NYSE:AVB)

Proficio Capital Partners LLC acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 106,893 shares of the real estate investment trust's stock, valued at approximately $23,513,000. Proficio Capital Partners LLC owned about 0.08% of AvalonBay Communities at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stratos Wealth Partners LTD. lifted its position in shares of AvalonBay Communities by 29.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust's stock worth $277,000 after buying an additional 288 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AvalonBay Communities by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock worth $914,627,000 after buying an additional 55,588 shares during the last quarter. West Oak Capital LLC lifted its position in shares of AvalonBay Communities by 875.3% during the 4th quarter. West Oak Capital LLC now owns 15,800 shares of the real estate investment trust's stock worth $356,000 after buying an additional 14,180 shares during the last quarter. Portfolio Design Labs LLC lifted its position in shares of AvalonBay Communities by 27.0% during the 4th quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust's stock worth $4,918,000 after buying an additional 4,747 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of AvalonBay Communities by 284.8% during the 3rd quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust's stock worth $32,983,000 after buying an additional 108,371 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

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AvalonBay Communities Price Performance

Shares of AVB traded down $1.77 during trading hours on Tuesday, reaching $209.98. The company had a trading volume of 856,746 shares, compared to its average volume of 626,397. The firm has a 50 day simple moving average of $218.01 and a 200-day simple moving average of $223.32. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $29.87 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 12-month low of $177.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share 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 issued a dividend of $1.75 per share. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities's dividend payout ratio (DPR) is 92.23%.

Analysts Set New Price Targets

Several research firms recently commented on AVB. Evercore ISI upped their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Barclays reduced their price target on shares of 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. Mizuho upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and upped their price target for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of "Moderate Buy" and an average 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.