Huntington National Bank Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Huntington National Bank grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,874 shares of the real estate investment trust’s stock after buying an additional 1,081 shares during the quarter. Huntington National Bank’s holdings in AvalonBay Communities were worth $7,011,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in AvalonBay Communities in the 4th quarter valued at $36,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $44,000. Generali Asset Management SPA SGR purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth about $66,000. Catalyst Capital Advisors LLC raised its position in shares of 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 purchasing an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in AvalonBay Communities by 42.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 132 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the subject of several research reports. Barclays cut their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada increased their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of 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 research note on Tuesday, December 17th. Truist Financial upped their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, AvalonBay Communities presently has an average rating of “Moderate Buy” and an average price target of $238.64.

AvalonBay Communities Stock Up 0.7 %

Shares of NYSE AVB opened at $216.01 on Thursday. The company has a market capitalization of $30.73 billion, a P/E ratio of 28.46, a P/E/G ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The company has a 50 day simple moving average of $217.37 and a 200-day simple moving average of $222.09. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (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%. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.24%. 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 (DPR) is 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.