Driehaus Capital Management LLC acquired a new position in AvalonBay Communities Inc (NYSE:AVB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,500 shares of the real estate investment trust’s stock, valued at approximately $1,338,000.
A number of other hedge funds have also bought and sold shares of AVB. Capital Analysts LLC boosted its position in AvalonBay Communities by 441.3% in the fourth quarter. Capital Analysts LLC now owns 2,230 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,818 shares during the last quarter. Bartlett & Co. LLC boosted its position in AvalonBay Communities by 112.8% in the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 361 shares during the last quarter. Amica Retiree Medical Trust purchased a new position in AvalonBay Communities in the third quarter worth $132,000. Keeler Thomas Management LLC purchased a new position in AvalonBay Communities in the fourth quarter worth $166,000. Finally, NuWave Investment Management LLC purchased a new position in AvalonBay Communities in the fourth quarter worth $181,000. 94.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of AvalonBay Communities Inc (AVB) opened at $161.52 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.19. AvalonBay Communities Inc has a one year low of $152.65 and a one year high of $199.52. The stock has a market capitalization of $22,307.95, a price-to-earnings ratio of 25.40, a P/E/G ratio of 2.51 and a beta of 0.42.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.64%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Wednesday, March 28th. AvalonBay Communities’s payout ratio is presently 89.31%.
Several research analysts have weighed in on AVB shares. BMO Capital Markets set a $175.00 price objective on AvalonBay Communities and gave the stock a “hold” rating in a research report on Friday, March 2nd. Robert W. Baird reissued a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, January 9th. Sandler O’Neill lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays lowered their target price on AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Finally, Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $191.75.
AvalonBay Communities Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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