PGGM Investments Boosts Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

PGGM Investments grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,076 shares of the real estate investment trust’s stock after purchasing an additional 394 shares during the period. PGGM Investments’ holdings in AvalonBay Communities were worth $1,337,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AVB. RPg Family Wealth Advisory LLC acquired a new stake in AvalonBay Communities during the 3rd quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in AvalonBay Communities during the fourth quarter worth about $36,000. Brooklyn Investment Group acquired a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $39,000. Prospera Private Wealth LLC bought a new stake in AvalonBay Communities in the third quarter valued at $51,000. Finally, Catalyst Capital Advisors LLC lifted its position 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 valued at $80,000 after purchasing an additional 275 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVB has been the subject of several research analyst reports. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $239.00 to $242.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Truist Financial boosted their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a report on Monday. Evercore ISI increased their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada increased their target price 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Stock Down 1.2 %

NYSE:AVB opened at $207.45 on Friday. The firm has a market capitalization of $29.51 billion, a P/E ratio of 27.33, a P/E/G ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 12-month low of $177.40 and a 12-month high of $239.29. The stock’s fifty day simple moving average is $218.22 and its 200-day simple moving average is $223.45. The company has a quick ratio of 1.64, a current 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 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%. Equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

AvalonBay Communities 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.