Oppenheimer Asset Management Inc. Increases Stock Position in AvalonBay Communities, Inc. $AVB

Oppenheimer Asset Management Inc. boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 40.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,836 shares of the real estate investment trust’s stock after buying an additional 3,393 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AvalonBay Communities were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of AvalonBay Communities in the second quarter worth $1,394,225,000. Invesco Ltd. boosted its stake in AvalonBay Communities by 70.2% in the 2nd quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock worth $527,823,000 after purchasing an additional 1,069,793 shares during the period. Bank of America Corp DE grew its holdings in AvalonBay Communities by 77.1% during the 2nd quarter. Bank of America Corp DE now owns 1,338,552 shares of the real estate investment trust’s stock valued at $272,395,000 after buying an additional 582,724 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of AvalonBay Communities by 23.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock valued at $573,091,000 after buying an additional 530,274 shares during the period. Finally, Bahl & Gaynor Inc. purchased a new stake in shares of AvalonBay Communities in the second quarter worth about $49,943,000. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVB. Piper Sandler reduced their price objective on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a research report on Tuesday, January 20th. Royal Bank Of Canada dropped their price objective on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Scotiabank reduced their target price on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Finally, Morgan Stanley decreased their target price on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Five analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $201.10.

AvalonBay Communities Stock Down 2.4%

Shares of NYSE:AVB opened at $175.47 on Friday. The firm has a market capitalization of $24.85 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.67 and a current ratio of 0.67. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $230.21. The firm has a fifty day moving average of $178.78 and a 200 day moving average of $184.17.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The firm had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same quarter in the previous year, the company posted $2.80 earnings per share. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. AvalonBay Communities’s dividend payout ratio (DPR) is 94.85%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.