Corient Private Wealth LLC Lowers Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Corient Private Wealth LLC reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,628 shares of the real estate investment trust’s stock after selling 99 shares during the period. Corient Private Wealth LLC’s holdings in AvalonBay Communities were worth $10,697,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Natixis Advisors LLC lifted its holdings in AvalonBay Communities by 13.2% in the 4th quarter. Natixis Advisors LLC now owns 74,376 shares of the real estate investment trust’s stock worth $16,360,000 after purchasing an additional 8,672 shares in the last quarter. LBP AM SA lifted its holdings in AvalonBay Communities by 490.5% in the 4th quarter. LBP AM SA now owns 50,330 shares of the real estate investment trust’s stock worth $11,071,000 after purchasing an additional 41,806 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in AvalonBay Communities by 7.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,783 shares of the real estate investment trust’s stock worth $4,572,000 after purchasing an additional 1,441 shares in the last quarter. PGGM Investments lifted its holdings in AvalonBay Communities by 6.9% in the 4th quarter. PGGM Investments now owns 6,076 shares of the real estate investment trust’s stock worth $1,337,000 after purchasing an additional 394 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in AvalonBay Communities by 0.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 58,579 shares of the real estate investment trust’s stock worth $12,875,000 after purchasing an additional 295 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on AVB shares. Evercore ISI boosted their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Truist Financial boosted their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Piper Sandler reduced their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada lifted their price objective on 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Stock Performance

NYSE AVB opened at $210.66 on Thursday. The company has a market cap of $29.97 billion, a P/E ratio of 27.75, a P/E/G ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The business’s 50 day moving average price is $217.95 and its 200-day moving average price is $223.12. AvalonBay Communities, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS 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%. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 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 given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is 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.