AvalonBay Communities, Inc. $AVB Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC increased its stake in AvalonBay by 1,078.3% in Q4 to 81,219 shares—about 0.06% of the company—worth roughly $14.7 million.
• AvalonBay raised its quarterly dividend to $1.78 (annualized $7.12), yielding about 4.4%, with an ex-dividend/record date of March 31 and a payment on April 15.
• The stock carries a consensus "Hold" rating from analysts with an average price target of $198.44, and several firms have recently lowered their ratings or targets.

SG Americas Securities LLC lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1,078.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 81,219 shares of the real estate investment trust's stock after buying an additional 74,326 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of AvalonBay Communities worth $14,726,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mather Group LLC. bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $30,000. BOKF NA bought a new position in AvalonBay Communities in the third quarter worth about $31,000. AlphaQuest LLC bought a new position in AvalonBay Communities in the third quarter worth about $33,000. Headlands Technologies LLC acquired a new position in AvalonBay Communities in the second quarter valued at approximately $36,000. Finally, Fulcrum Asset Management LLP acquired a new position in AvalonBay Communities in the third quarter valued at approximately $37,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB opened at $160.88 on Friday. The firm has a market capitalization of $22.54 billion, a PE ratio of 19.64, a P/E/G ratio of 2.82 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $174.04 and a 200 day moving average price of $180.10. AvalonBay Communities, Inc. has a 52-week low of $160.35 and a 52-week high of $216.47.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.01. The company had revenue of $767.86 million for the quarter, compared to the consensus estimate of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same period in the previous year, the firm earned $2.80 EPS. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.78 per share. 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 4.4%. AvalonBay Communities's dividend payout ratio is presently 85.47%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Scotiabank dropped their price target on AvalonBay Communities from $193.00 to $190.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 4th. Colliers Securities restated a "neutral" rating and set a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a "buy" rating to a "hold" rating and set a $172.00 price objective for the company. in a research note on Tuesday, January 20th. Wall Street Zen lowered AvalonBay Communities from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and an average price target of $198.44.

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.

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