Oregon Public Employees Retirement Fund Buys 69 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Oregon Public Employees Retirement Fund increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,179 shares of the real estate investment trust’s stock after purchasing an additional 69 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AvalonBay Communities were worth $2,679,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AVB. RPg Family Wealth Advisory LLC bought a new position in shares of AvalonBay Communities during the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in AvalonBay Communities in the third quarter worth $39,000. Prospera Private Wealth LLC purchased a new stake in AvalonBay Communities in the third quarter worth $51,000. Catalyst Capital Advisors LLC increased its stake in AvalonBay Communities by 312.5% in 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% in 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. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.6 %

Shares of NYSE AVB opened at $222.93 on Friday. AvalonBay Communities, Inc. has a 1-year low of $172.85 and a 1-year high of $239.29. The stock has a market capitalization of $31.71 billion, a P/E ratio of 29.37, a price-to-earnings-growth 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 business has a fifty day moving average price of $218.71 and a 200 day moving average price of $223.23.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. Equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS 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 given a dividend of $1.75 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Piper Sandler lowered their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Finally, Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.