Corient Private Wealth LLC Sells 99 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Corient Private Wealth LLC trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,628 shares of the real estate investment trust’s stock after selling 99 shares during the quarter. Corient Private Wealth LLC’s holdings in AvalonBay Communities were worth $10,697,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its holdings in shares of AvalonBay Communities by 29.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 288 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock worth $914,627,000 after buying an additional 55,588 shares during the period. West Oak Capital LLC lifted its holdings in shares of AvalonBay Communities by 875.3% in the 4th quarter. West Oak Capital LLC now owns 15,800 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 14,180 shares during the period. Portfolio Design Labs LLC lifted its holdings in shares of AvalonBay Communities by 27.0% in the 4th quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust’s stock worth $4,918,000 after buying an additional 4,747 shares during the period. Finally, Swedbank AB lifted its holdings in shares of AvalonBay Communities by 46.6% in the 3rd quarter. Swedbank AB now owns 34,791 shares of the real estate investment trust’s stock worth $7,837,000 after buying an additional 11,064 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 0.2 %

Shares of AVB stock opened at $210.66 on Thursday. The stock’s 50-day simple moving average is $217.95 and its 200-day simple moving average is $223.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market capitalization of $29.97 billion, a PE ratio of 27.75, a P/E/G ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data 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 analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.32%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVB. Barclays lowered their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Truist Financial upped their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company 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.