Excalibur Management Corp Sells 62 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Excalibur Management Corp lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,858 shares of the real estate investment trust’s stock after selling 62 shares during the period. Excalibur Management Corp’s holdings in AvalonBay Communities were worth $849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC bought a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities during the third quarter valued at approximately $39,000. Crowley Wealth Management Inc. bought a new position in AvalonBay Communities in the fourth quarter worth approximately $44,000. Finally, Generali Asset Management SPA SGR purchased a new stake in AvalonBay Communities during the fourth quarter worth $66,000. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Truist Financial lifted their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $212.61 on Wednesday. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The business’s 50 day moving average price is $217.75 and its 200 day moving average price is $222.70. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $30.24 billion, a P/E ratio of 28.01, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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 net margin of 37.13% and a return on equity of 9.15%. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.75 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.29%. AvalonBay Communities’s dividend payout ratio is presently 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.