NewEdge Wealth LLC Increases Stock Position in AvalonBay Communities, Inc. $AVB

NewEdge Wealth LLC boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 55.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,429 shares of the real estate investment trust’s stock after buying an additional 3,011 shares during the quarter. NewEdge Wealth LLC’s holdings in AvalonBay Communities were worth $1,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth about $30,000. Clearstead Trust LLC increased its stake in shares of AvalonBay Communities by 62.0% in the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 62 shares in the last quarter. AlphaQuest LLC acquired a new position in AvalonBay Communities in the 3rd quarter worth about $33,000. Headlands Technologies LLC acquired a new position in AvalonBay Communities in the 2nd quarter worth about $36,000. Finally, Atlantic Union Bankshares Corp purchased a new position in AvalonBay Communities during the second quarter worth approximately $59,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.1%

Shares of AVB stock opened at $177.32 on Friday. AvalonBay Communities, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $230.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $178.84 and its two-hundred day moving average is $183.54. The firm has a market capitalization of $25.11 billion, a P/E ratio of 21.65, a PEG ratio of 3.12 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. The business had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same quarter in the prior year, the firm earned $2.80 earnings per share. Research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $1.78 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. AvalonBay Communities’s dividend payout ratio is 85.47%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVB. Truist Financial cut their price objective on AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Barclays lifted their price target on shares of AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Wells Fargo & Company cut their price target on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Finally, Royal Bank Of Canada cut their target price on shares of AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $200.91.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.