Prestige Wealth Management Group LLC Acquires 201 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Prestige Wealth Management Group LLC boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 10.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,049 shares of the real estate investment trust’s stock after acquiring an additional 201 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in AvalonBay Communities were worth $454,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AvalonBay Communities in the third quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new stake in AvalonBay Communities in the 4th quarter valued at $36,000. Brooklyn Investment Group purchased a new stake in AvalonBay Communities in the 3rd quarter valued at $39,000. Crowley Wealth Management Inc. bought a new position in AvalonBay Communities during the 4th quarter valued at $44,000. Finally, Generali Asset Management SPA SGR purchased a new position in AvalonBay Communities during the 4th quarter worth $66,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AVB. Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Royal Bank of Canada lifted their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price target for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Truist Financial boosted their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Barclays decreased their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Stock Performance

NYSE AVB opened at $214.40 on Tuesday. The company’s 50 day moving average is $217.86 and its 200-day moving average is $222.78. 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 has a market cap of $30.50 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 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%. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid 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 yield of 3.26%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

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.