Parallel Advisors LLC Purchases 328 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Parallel Advisors LLC lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 29.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,451 shares of the real estate investment trust’s stock after purchasing an additional 328 shares during the quarter. Parallel Advisors LLC’s holdings in AvalonBay Communities were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $39,000. Catalyst Capital Advisors LLC boosted its position in shares of AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of AvalonBay Communities by 59.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 179 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Trading Down 0.9 %

Shares of NYSE:AVB opened at $209.49 on Friday. The stock has a market capitalization of $29.80 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.11 and a beta of 1.00. 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 stock’s 50-day simple moving average is $217.90 and its two-hundred day simple moving average is $222.90. AvalonBay Communities, Inc. has a 52-week low of $177.40 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.34%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVB shares. Royal Bank of Canada lifted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Evercore ISI boosted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Truist Financial boosted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

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.