Sherman Asset Management Inc. Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Sherman Asset Management Inc. purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 528 shares of the real estate investment trust’s stock, valued at approximately $116,000.

Other hedge funds have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group purchased a new position in shares of AvalonBay Communities during the third quarter valued at approximately $39,000. Prospera Private Wealth LLC purchased a new position in shares of AvalonBay Communities during the third quarter valued at approximately $51,000. Finally, Catalyst Capital Advisors LLC boosted its position in shares of AvalonBay Communities by 312.5% during the fourth 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 last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 1.4 %

Shares of NYSE AVB opened at $226.17 on Friday. AvalonBay Communities, Inc. has a one year low of $174.46 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 business’s fifty day moving average price is $218.79 and its 200-day moving average price is $223.43. The stock has a market capitalization of $32.17 billion, a PE ratio of 29.80, a P/E/G ratio of 3.11 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results 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 net margin of 37.13% and a return on equity of 9.15%. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Wall Street Analysts Forecast Growth

AVB has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Barclays cut their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Evercore ISI boosted their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities has a consensus 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.