AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. cut its position in AvalonBay Communities, Inc. (NYSE:AVB) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,660 shares of the real estate investment trust’s stock after selling 540 shares during the quarter. Walter Public Investments Inc.’s holdings in AvalonBay Communities were worth $585,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $36,000. Brooklyn Investment Group acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC acquired a new stake in AvalonBay Communities during the 3rd quarter worth approximately $51,000. Finally, Catalyst Capital Advisors LLC lifted its position in AvalonBay Communities by 312.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 275 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada increased their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Barclays decreased their price objective on 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 decreased their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Evercore ISI increased 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. Finally, JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $221.45 on Thursday. The company has a market cap of $31.50 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The stock has a 50 day simple moving average of $218.60 and a 200-day simple moving average of $223.23. AvalonBay Communities, Inc. has a 12-month low of $172.85 and a 12-month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate 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 analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.75 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 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.