Janney Montgomery Scott LLC Purchases New Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Janney Montgomery Scott LLC purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,156 shares of the real estate investment trust’s stock, valued at approximately $1,134,000.

Several other institutional investors have also made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of AvalonBay Communities by 1.8% in the third quarter. Allworth Financial LP now owns 3,351 shares of the real estate investment trust’s stock valued at $617,000 after buying an additional 60 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of AvalonBay Communities by 0.3% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 21,451 shares of the real estate investment trust’s stock valued at $4,167,000 after purchasing an additional 65 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of AvalonBay Communities by 2.5% in the 2nd quarter. Alps Advisors Inc. now owns 2,708 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 66 shares during the last quarter. Aurora Investment Managers LLC. raised its holdings in shares of AvalonBay Communities by 1.4% during the 3rd quarter. Aurora Investment Managers LLC. now owns 4,738 shares of the real estate investment trust’s stock worth $873,000 after buying an additional 67 shares in the last quarter. Finally, Garrison Point Advisors LLC lifted its position in shares of AvalonBay Communities by 4.5% during the 3rd quarter. Garrison Point Advisors LLC now owns 1,625 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 70 shares during the last quarter. 87.30% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $170.01 on Wednesday. The business’s 50 day simple moving average is $166.72 and its 200 day simple moving average is $184.17. AvalonBay Communities, Inc. has a one year low of $157.69 and a one year high of $259.05. The stock has a market capitalization of $23.78 billion, a PE ratio of 19.34, a PEG ratio of 3.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.20 and a quick ratio of 1.20.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, December 29th. AvalonBay Communities’s payout ratio is presently 72.36%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVB. TheStreet cut AvalonBay Communities from a “b-” rating to a “c+” rating in a research report on Friday, October 14th. JPMorgan Chase & Co. cut AvalonBay Communities from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $206.00 to $197.00 in a research report on Friday, December 16th. Deutsche Bank Aktiengesellschaft cut AvalonBay Communities from a “buy” rating to a “hold” rating and decreased their target price for the company from $194.00 to $179.00 in a research report on Wednesday, January 4th. Colliers Securities decreased their target price on AvalonBay Communities to $239.00 in a research report on Thursday, September 29th. Finally, Piper Sandler cut AvalonBay Communities from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $189.00 to $160.00 in a research report on Monday, November 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and a consensus price target of $202.78.

AvalonBay Communities Profile

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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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.