Erste Asset Management GmbH Has $1.88 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Erste Asset Management GmbH grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,500 shares of the real estate investment trust’s stock after purchasing an additional 700 shares during the quarter. Erste Asset Management GmbH’s holdings in AvalonBay Communities were worth $1,880,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC bought a new stake in AvalonBay Communities in the third quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities during the 4th quarter worth about $36,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $51,000. Finally, Catalyst Capital Advisors LLC boosted its stake in 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 acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AVB. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their target price for the company from $239.00 to $242.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Truist Financial increased their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Piper Sandler cut their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Price Performance

NYSE AVB opened at $209.55 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12-month low of $177.40 and a 12-month high of $239.29. The firm’s 50 day moving average is $218.02 and its 200-day moving average is $223.38. The company has a market capitalization of $29.81 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00.

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 the consensus estimate 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 anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business 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. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.34%. AvalonBay Communities’s payout ratio is 92.23%.

AvalonBay Communities Company 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.