Townsquare Capital LLC lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,359 shares of the real estate investment trust’s stock after purchasing an additional 459 shares during the quarter. Townsquare Capital LLC’s holdings in AvalonBay Communities were worth $1,179,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in AVB. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the fourth quarter valued at $36,000. Crowley Wealth Management Inc. purchased a new position in shares of AvalonBay Communities in the 4th quarter valued at about $44,000. Generali Asset Management SPA SGR purchased a new position in shares of AvalonBay Communities in the 4th quarter valued at about $66,000. Catalyst Capital Advisors LLC raised its holdings in AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in AvalonBay Communities by 42.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 132 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. BMO Capital Markets cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Royal Bank of Canada lifted their target price 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. Truist Financial upped their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Eight 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.
AvalonBay Communities Trading Up 1.4 %
Shares of AVB opened at $202.93 on Friday. 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 firm has a 50-day moving average price of $211.40 and a 200 day moving average price of $219.22. AvalonBay Communities, Inc. has a 12-month low of $180.17 and a 12-month high of $239.29. The firm has a market capitalization of $28.89 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.11 and a beta of 0.86.
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 return on equity of 9.15% and a net margin of 37.13%. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.
AvalonBay Communities Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is 92.23%.
About AvalonBay Communities
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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