New Age Alpha Advisors LLC Purchases 37,736 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

New Age Alpha Advisors LLC raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 53,908.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 37,806 shares of the real estate investment trust’s stock after acquiring an additional 37,736 shares during the quarter. New Age Alpha Advisors LLC’s holdings in AvalonBay Communities were worth $8,316,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $215,000. The Manufacturers Life Insurance Company boosted its position in AvalonBay Communities by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 112,392 shares of the real estate investment trust’s stock valued at $25,316,000 after acquiring an additional 2,702 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $39,000. BNP Paribas Financial Markets increased its stake in shares of AvalonBay Communities by 54.8% during the third quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust’s stock valued at $58,459,000 after purchasing an additional 91,861 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in AvalonBay Communities by 42.0% during the third quarter. Townsquare Capital LLC now owns 4,900 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 1,450 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AVB. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Truist Financial upped their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. 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. 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. Finally, Barclays dropped their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Seven investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.64.

AvalonBay Communities Price Performance

AVB stock opened at $213.18 on Friday. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 52-week low of $177.40 and a 52-week high of $239.29. The business has a fifty day moving average of $217.60 and a two-hundred day moving average of $222.58.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results 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 return on equity of 9.15% and a net margin of 37.13%. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.75 per share. 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. This represents a $7.00 annualized dividend and a dividend yield of 3.28%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 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.