Portfolio Design Labs LLC Has $4.92 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Portfolio Design Labs LLC grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 27.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,356 shares of the real estate investment trust’s stock after acquiring an additional 4,747 shares during the quarter. AvalonBay Communities accounts for about 1.0% of Portfolio Design Labs LLC’s holdings, making the stock its 21st largest position. Portfolio Design Labs LLC’s holdings in AvalonBay Communities were worth $4,918,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AVB. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities in the third quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $39,000. Prospera Private Wealth LLC acquired a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $51,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of AvalonBay Communities by 59.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 179 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in AvalonBay Communities in the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AVB shares. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Barclays reduced their price target on shares of AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Evercore ISI raised their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Piper Sandler reduced their target price on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $235.73.

AvalonBay Communities Trading Down 0.1 %

Shares of AVB opened at $219.01 on Wednesday. The stock’s fifty day simple moving average is $220.27 and its 200-day simple moving average is $222.38. The firm has a market capitalization of $31.15 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 3.10 and a beta of 1.00. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $239.29. 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 released 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 net margin of 37.13% and a return on equity of 9.15%. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.53 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date 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 yield of 3.20%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

About AvalonBay Communities

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.