Ieq Capital LLC Purchases 2,145 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Ieq Capital LLC increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 79.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,828 shares of the real estate investment trust’s stock after purchasing an additional 2,145 shares during the quarter. Ieq Capital LLC’s holdings in AvalonBay Communities were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities during the third quarter valued at $26,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities in the 3rd quarter worth about $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $51,000. Catalyst Capital Advisors LLC boosted its stake in AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in AvalonBay Communities by 59.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 179 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVB shares. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $239.00 to $242.00 in a report on Monday, January 6th. Evercore ISI lifted their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Royal Bank of Canada lifted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Finally, Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $221.12 on Tuesday. The firm has a market capitalization of $31.45 billion, a PE ratio of 29.13, a P/E/G ratio of 3.12 and a beta of 0.99. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $218.63 and a 200-day moving average price of $223.15. AvalonBay Communities, Inc. has a 52 week low of $172.85 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 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%. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.17%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 89.59%.

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.