Nicola Wealth Management LTD. Raises Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Nicola Wealth Management LTD. lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,650 shares of the real estate investment trust’s stock after acquiring an additional 1,200 shares during the quarter. Nicola Wealth Management LTD.’s holdings in AvalonBay Communities were worth $2,343,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $36,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $39,000. Prospera Private Wealth LLC purchased a new stake in AvalonBay Communities in the 3rd quarter valued at $51,000. Finally, Catalyst Capital Advisors LLC raised 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. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $228.15 on Tuesday. 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, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29. The stock has a market cap of $32.45 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99. The firm’s fifty day simple moving average is $218.92 and its 200-day simple moving average is $223.59.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. Analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared 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 of this dividend is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.07%. AvalonBay Communities’s dividend payout ratio is 92.23%.

Analysts Set New Price Targets

Several analysts recently commented on AVB shares. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Scotiabank reduced their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Piper Sandler reduced their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their price target 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Company 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.