Cypress Capital Group Lowers Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Cypress Capital Group reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,547 shares of the real estate investment trust’s stock after selling 47 shares during the quarter. Cypress Capital Group’s holdings in AvalonBay Communities were worth $340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities in the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the 4th quarter valued at about $36,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities in the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the 3rd quarter valued at about $51,000. Finally, Catalyst Capital Advisors LLC lifted its stake 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 buying an additional 275 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 0.7 %

Shares of NYSE AVB opened at $224.62 on Thursday. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The company has a 50 day simple moving average of $218.95 and a 200-day simple moving average of $223.65. The company has a market capitalization of $31.95 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.12%. The ex-dividend date is Monday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVB shares. Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler decreased their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Evercore ISI raised their target price on shares of 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 raised 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 note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Moderate Buy” and an average 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.