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

Oppenheimer Asset Management Inc. raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 40.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVB. Mather Group LLC. purchased a new position in shares of AvalonBay Communities in the third quarter worth about $30,000. Clearstead Trust LLC increased its stake in AvalonBay Communities by 62.0% in the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares during the period. AlphaQuest LLC bought a new stake in AvalonBay Communities in the third quarter valued at approximately $33,000. Headlands Technologies LLC bought a new stake in AvalonBay Communities in the second quarter valued at approximately $36,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of AvalonBay Communities during the second quarter valued at approximately $59,000. 92.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AVB shares. Cantor Fitzgerald lifted their target price on shares of AvalonBay Communities from $179.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday. Evercore restated an “in-line” rating and issued a $214.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 3rd. Wells Fargo & Company dropped their target price on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Mizuho reduced their price target on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Finally, Barclays upped their price target on AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $201.10.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $175.47 on Friday. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year high of $230.21. The stock has a market capitalization of $24.85 billion, a P/E ratio of 23.78, a P/E/G ratio of 3.16 and a beta of 0.76. The company’s 50-day moving average is $178.78 and its 200 day moving average is $184.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.67 and a quick ratio of 0.67.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, beating 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 business had revenue of $767.86 million for the quarter, compared to analysts’ expectations of $766.38 million. During the same period in the previous year, the firm posted $2.80 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 annualized dividend and a yield of 4.1%. AvalonBay Communities’s payout ratio is currently 94.85%.

About AvalonBay Communities

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.