Waterfront Capital Partners LLC Buys Shares of 103,655 AvalonBay Communities, Inc. (NYSE:AVB)

Waterfront Capital Partners LLC acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 103,655 shares of the real estate investment trust's stock, valued at approximately $22,801,000. AvalonBay Communities accounts for approximately 4.2% of Waterfront Capital Partners LLC's investment portfolio, making the stock its 12th biggest holding. Waterfront Capital Partners LLC owned about 0.07% of AvalonBay Communities at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVB. MGO One Seven LLC acquired a new stake in AvalonBay Communities in the fourth quarter valued at $520,000. Price T Rowe Associates Inc. MD raised its stake in shares of AvalonBay Communities by 35.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock valued at $1,133,328,000 after purchasing an additional 1,336,698 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of AvalonBay Communities by 1.4% during the fourth quarter. Hsbc Holdings PLC now owns 604,010 shares of the real estate investment trust's stock worth $132,751,000 after purchasing an additional 8,439 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in AvalonBay Communities by 6.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,809 shares of the real estate investment trust's stock worth $1,058,000 after purchasing an additional 300 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in AvalonBay Communities by 21.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,438 shares of the real estate investment trust's stock valued at $2,736,000 after buying an additional 2,213 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of AVB traded up $0.58 during trading hours on Wednesday, hitting $207.76. The company had a trading volume of 288,220 shares, compared to its average volume of 687,959. The firm has a market cap of $29.58 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.11 and a beta of 0.86. The business has a fifty day moving average of $209.36 and a 200-day moving average of $218.43. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.37%. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date was Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler cut their price target on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. 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 note on Monday, March 10th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $236.00 to $223.00 in a research report on Friday, January 24th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective on the stock. in a research report on Friday, April 4th. Finally, Barclays boosted their target price on AvalonBay Communities from $226.00 to $227.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities has a consensus rating of "Moderate Buy" and an average price target of $237.47.

AvalonBay Communities Company 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.