Third View Private Wealth LLC Takes $3.11 Million Position in AvalonBay Communities, Inc. $AVB

Key Points

• Third View Private Wealth LLC acquired a new stake of 17,171 shares in AvalonBay valued at approximately $3.11 million, and institutional investors now own about 92.61% of the stock.
• AvalonBay slightly beat quarterly expectations with EPS of $2.85 versus $2.84 and revenue of $767.9 million, and the REIT has a market cap near $23.6 billion with a P/E around 20.7.
• The company raised its quarterly dividend to $1.78 per share (annualized $7.12), implying a 4.2% yield; the ex-dividend date is March 31 and the payment is scheduled for April 15.

Third View Private Wealth LLC acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 17,171 shares of the real estate investment trust's stock, valued at approximately $3,113,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust's stock valued at $649,000 after purchasing an additional 60 shares during the last quarter. PFG Investments LLC raised its holdings in shares of AvalonBay Communities by 4.4% in the third quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust's stock valued at $281,000 after purchasing an additional 61 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of AvalonBay Communities by 13.3% in the third quarter. Global Retirement Partners LLC now owns 564 shares of the real estate investment trust's stock valued at $109,000 after purchasing an additional 66 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of AvalonBay Communities by 1.5% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,779 shares of the real estate investment trust's stock valued at $1,116,000 after purchasing an additional 84 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of AvalonBay Communities by 14.6% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 785 shares of the real estate investment trust's stock valued at $152,000 after purchasing an additional 100 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE AVB opened at $169.45 on Tuesday. The firm has a 50-day moving average of $171.72 and a 200-day moving average of $177.92. 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 stock has a market cap of $23.57 billion, a PE ratio of 20.69, a P/E/G ratio of 2.98 and a beta of 0.75. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $213.34.

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

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.75. AvalonBay Communities's dividend payout ratio is 86.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVB shares. UBS Group lowered their price objective on shares of AvalonBay Communities from $192.00 to $191.00 and set a "neutral" rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada lowered their target price on shares of AvalonBay Communities from $191.00 to $187.00 and set a "sector perform" rating on the stock in a report on Friday, February 6th. Citigroup lowered their target price on shares of AvalonBay Communities from $212.00 to $198.00 and set a "neutral" rating on the stock in a report on Friday, February 13th. Wall Street Zen downgraded shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Finally, Cantor Fitzgerald boosted their target price on shares of AvalonBay Communities from $179.00 to $186.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $197.00.

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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