AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 466.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,088 shares of the real estate investment trust’s stock after purchasing an additional 896 shares during the quarter. Jones Financial Companies Lllp’s holdings in AvalonBay Communities were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. raised its position in shares of AvalonBay Communities by 6.2% in the 3rd quarter. Assetmark Inc. now owns 16,308 shares of the real estate investment trust’s stock valued at $3,673,000 after purchasing an additional 956 shares in the last quarter. Atria Investments Inc grew its holdings in AvalonBay Communities by 4.0% during the third quarter. Atria Investments Inc now owns 15,487 shares of the real estate investment trust’s stock worth $3,488,000 after acquiring an additional 602 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of AvalonBay Communities by 39.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,998 shares of the real estate investment trust’s stock valued at $675,000 after purchasing an additional 853 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $4,456,000. Finally, Apollon Wealth Management LLC raised its stake in shares of AvalonBay Communities by 10.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,112 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $210.02 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The firm has a 50-day moving average of $218.41 and a 200-day moving average of $223.57. The firm has a market cap of $29.88 billion, a P/E ratio of 27.67, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last released 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 net margin of 37.13% and a return on equity of 9.15%. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is 92.23%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVB shares. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Piper Sandler dropped their target price on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada increased their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Barclays reduced their price target 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. Finally, Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities presently has an average rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities 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.