Elo Mutual Pension Insurance Co Raises Position in AvalonBay Communities, Inc. (NYSE:AVB)

Elo Mutual Pension Insurance Co lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 13.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,278 shares of the real estate investment trust’s stock after purchasing an additional 1,727 shares during the period. Elo Mutual Pension Insurance Co’s holdings in AvalonBay Communities were worth $3,141,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in AvalonBay Communities during the third quarter valued at about $215,000. The Manufacturers Life Insurance Company grew its stake in shares of 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 during the period. Brooklyn Investment Group purchased a new stake in AvalonBay Communities in the 3rd quarter worth approximately $39,000. Townsquare Capital LLC raised its stake in AvalonBay Communities by 42.0% during the 3rd quarter. Townsquare Capital LLC now owns 4,900 shares of the real estate investment trust’s stock worth $1,104,000 after acquiring an additional 1,450 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in AvalonBay Communities by 3.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,786 shares of the real estate investment trust’s stock valued at $20,900,000 after purchasing an additional 3,138 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVB shares. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Truist Financial boosted their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $213.50 on Friday. The firm has a fifty day simple moving average of $217.50 and a two-hundred day simple moving average of $222.49. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $30.37 billion, a P/E ratio of 28.13, a PEG ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last announced 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, analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.28%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s payout ratio is currently 92.23%.

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.