Vestcor Inc Acquires 1,348 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Vestcor Inc raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 43,062 shares of the real estate investment trust’s stock after acquiring an additional 1,348 shares during the period. Vestcor Inc’s holdings in AvalonBay Communities were worth $9,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $36,000. Brooklyn Investment Group acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at $39,000. Prospera Private Wealth LLC acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at $51,000. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of 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 during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 1.4 %

AvalonBay Communities stock opened at $210.02 on Thursday. The firm has a 50-day moving average of $218.41 and a 200-day moving average of $223.57. AvalonBay Communities, Inc. has a one year low of $177.40 and a one 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 market cap of $29.88 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 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%. On average, equities 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 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. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AVB shares. Piper Sandler decreased their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $239.00 to $242.00 in a report on Monday, January 6th. Barclays decreased their price target on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. 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. Finally, Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.64.

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.