AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,902 shares of the real estate investment trust’s stock after acquiring an additional 826 shares during the period. Commonwealth Equity Services LLC’s holdings in AvalonBay Communities were worth $2,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVB. Horizon Investments LLC increased its holdings in AvalonBay Communities by 20.6% in the third quarter. Horizon Investments LLC now owns 1,393 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 238 shares during the last quarter. United Capital Financial Advisers LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $990,000. AlphaCrest Capital Management LLC raised its position in shares of AvalonBay Communities by 22.7% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 8,399 shares of the real estate investment trust’s stock valued at $1,547,000 after acquiring an additional 1,555 shares in the last quarter. Allstate Corp lifted its stake in AvalonBay Communities by 74.6% during the third quarter. Allstate Corp now owns 55,274 shares of the real estate investment trust’s stock worth $10,181,000 after purchasing an additional 23,610 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its holdings in AvalonBay Communities by 8.9% in the third quarter. Virtus ETF Advisers LLC now owns 8,006 shares of the real estate investment trust’s stock worth $1,475,000 after purchasing an additional 654 shares during the period. Institutional investors own 87.30% of the company’s stock.

AvalonBay Communities Trading Down 3.2 %

Shares of NYSE:AVB opened at $165.53 on Friday. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.18 and a beta of 0.90. AvalonBay Communities, Inc. has a 1-year low of $157.69 and a 1-year high of $259.05. The company has a 50 day moving average price of $172.97 and a 200 day moving average price of $177.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.04 and a current ratio of 2.04.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a dividend of $1.65 per share. The ex-dividend date is Thursday, March 30th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.59. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.99%. AvalonBay Communities’s payout ratio is 78.42%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVB. The Goldman Sachs Group downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $197.00 to $187.00 in a research report on Thursday, December 8th. Truist Financial upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and increased their price target for the stock from $186.00 to $190.00 in a research report on Tuesday, January 17th. KeyCorp reduced their price objective on AvalonBay Communities from $237.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, December 7th. Morgan Stanley increased their target price on AvalonBay Communities from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and reduced their price target for the company from $194.00 to $179.00 in a report on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $202.78.

AvalonBay Communities Company 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.