Y Intercept Hong Kong Ltd Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Y Intercept Hong Kong Ltd purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,061 shares of the real estate investment trust’s stock, valued at approximately $893,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities during the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in AvalonBay Communities during the third quarter worth about $39,000. Prospera Private Wealth LLC purchased a new stake in AvalonBay Communities during the third quarter worth about $51,000. Catalyst Capital Advisors LLC increased its stake in AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in AvalonBay Communities by 59.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 179 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVB. Evercore ISI boosted their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Piper Sandler cut their target price on shares of 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, Royal Bank of Canada upped 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 note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Stock Performance

Shares of AVB opened at $222.93 on Friday. The stock has a 50 day moving average price of $218.71 and a 200 day moving average price of $223.23. 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 company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 52-week low of $172.85 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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%. Research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued 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 dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is presently 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.