AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,781 shares of the real estate investment trust’s stock after buying an additional 6,934 shares during the period. Cibc World Markets Corp’s holdings in AvalonBay Communities were worth $14,030,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its holdings in AvalonBay Communities by 29.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 288 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of AvalonBay Communities by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after purchasing an additional 55,588 shares during the period. West Oak Capital LLC boosted its holdings in AvalonBay Communities by 875.3% during the fourth quarter. West Oak Capital LLC now owns 15,800 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 14,180 shares in the last quarter. Portfolio Design Labs LLC boosted its holdings in AvalonBay Communities by 27.0% during the fourth quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust’s stock worth $4,918,000 after buying an additional 4,747 shares in the last quarter. Finally, Swedbank AB grew its position in AvalonBay Communities by 46.6% during the third quarter. Swedbank AB now owns 34,791 shares of the real estate investment trust’s stock worth $7,837,000 after buying an additional 11,064 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.0 %

Shares of NYSE:AVB opened at $211.70 on Tuesday. AvalonBay Communities, Inc. has a 12-month low of $177.40 and a 12-month high of $239.29. The stock’s 50-day moving average price is $218.01 and its two-hundred day moving average price is $223.32. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 3.11 and a beta of 1.00.

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%. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.75 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Wall Street Analyst Weigh In

AVB has been the topic of a number of research analyst reports. Truist Financial boosted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted 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 report on Friday, February 7th. Piper Sandler lowered their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Evercore ISI lifted 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.