Heritage Wealth Advisors Sells 223 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Heritage Wealth Advisors lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 781 shares of the real estate investment trust’s stock after selling 223 shares during the period. Heritage Wealth Advisors’ holdings in AvalonBay Communities were worth $172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities in the 4th quarter valued at $36,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $39,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth $44,000. Finally, Generali Asset Management SPA SGR bought a new position in shares of AvalonBay Communities in the fourth quarter worth $66,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.8 %

Shares of AvalonBay Communities stock opened at $212.61 on Wednesday. The stock has a market capitalization of $30.24 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The stock has a 50 day moving average price of $217.75 and a two-hundred day moving average price of $222.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

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%. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Piper Sandler reduced 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. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Finally, 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. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.64.

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.