AvalonBay Communities, Inc. $AVB Shares Purchased by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management boosted its stake in AvalonBay by 1,325.6% in Q4, buying an additional 23,595 shares to hold 25,375 shares worth about $4.64 million.
• Several analysts have cut price targets recently and the stock carries a consensus rating of "Hold" with a consensus target price of $197.00.
• AvalonBay raised its quarterly dividend to $1.78 (annualized $7.12), yielding 4.1%, though the payout ratio is high at 86.94%.

Evergreen Capital Management LLC lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1,325.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,375 shares of the real estate investment trust's stock after purchasing an additional 23,595 shares during the quarter. Evergreen Capital Management LLC's holdings in AvalonBay Communities were worth $4,644,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AVB. Mather Group LLC. acquired a new stake in AvalonBay Communities in the third quarter valued at $30,000. BOKF NA acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth $31,000. AlphaQuest LLC purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth about $33,000. Headlands Technologies LLC acquired a new stake in AvalonBay Communities in the 2nd quarter valued at about $36,000. Finally, Fulcrum Asset Management LLP acquired a new stake in AvalonBay Communities in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

Analyst Ratings Changes

AVB has been the subject of a number of recent research reports. Citigroup dropped their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a "neutral" rating for the company in a research note on Friday, February 13th. Scotiabank reduced their target price on AvalonBay Communities from $193.00 to $190.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley reiterated an "equal weight" rating and set a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Piper Sandler cut their price target on AvalonBay Communities from $190.00 to $183.00 and set a "neutral" rating for the company in a report on Monday, February 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of "Hold" and a consensus target price of $197.00.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $172.43 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.09 and a beta of 0.75. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $213.34. The company has a 50 day moving average price of $171.48 and a 200 day moving average price of $177.07.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data 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. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The company had revenue of $767.86 million for the quarter, compared to the consensus estimate of $766.38 million. During the same period last year, the business posted $2.80 EPS. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.29 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $1.78 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.75. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, March 31st. AvalonBay Communities's payout ratio is 86.94%.

AvalonBay Communities Profile

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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