SVB Wealth LLC Takes $634,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

SVB Wealth LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,883 shares of the real estate investment trust’s stock, valued at approximately $634,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. OneDigital Investment Advisors LLC increased its stake in AvalonBay Communities by 4.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 55 shares during the period. Wedmont Private Capital increased its stake in AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 55 shares during the period. MAI Capital Management increased its stake in AvalonBay Communities by 1.7% during the 3rd quarter. MAI Capital Management now owns 3,633 shares of the real estate investment trust’s stock worth $818,000 after buying an additional 60 shares during the period. Raymond James Trust N.A. increased its stake in AvalonBay Communities by 3.1% during the 3rd quarter. Raymond James Trust N.A. now owns 2,015 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 60 shares during the period. Finally, Private Advisor Group LLC increased its stake in AvalonBay Communities by 2.6% during the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 63 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 0.9 %

NYSE:AVB opened at $228.15 on Tuesday. The firm has a market capitalization of $32.45 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99. The stock has a 50 day moving average of $218.92 and a 200-day moving average of $223.59. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week 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) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 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%. Analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Analysts Set New Price Targets

AVB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their target price for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Royal Bank of Canada increased their price target 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. Finally, Piper Sandler reduced their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.