AvalonBay Communities, Inc. $AVB Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 82.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,101 shares of the real estate investment trust’s stock after selling 14,588 shares during the quarter. Pallas Capital Advisors LLC’s holdings in AvalonBay Communities were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AVB. Tradewinds Capital Management LLC acquired a new stake in AvalonBay Communities during the fourth quarter worth about $45,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at about $26,237,000. Czech National Bank lifted its stake in shares of AvalonBay Communities by 3.2% in the 4th quarter. Czech National Bank now owns 37,292 shares of the real estate investment trust’s stock valued at $6,761,000 after purchasing an additional 1,173 shares in the last quarter. Pensionfund Sabic purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth about $1,813,000. Finally, Pensionfund PDN purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth about $3,648,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $161.51 on Tuesday. The business’s 50-day simple moving average is $173.62 and its 200 day simple moving average is $179.76. The company has a market cap of $22.62 billion, a P/E ratio of 19.72, a PEG ratio of 2.82 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77. AvalonBay Communities, Inc. has a one year low of $160.35 and a one year high of $216.47.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share 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 firm had revenue of $767.86 million during the quarter, compared to analysts’ expectations of $766.38 million. During the same quarter in the prior year, the business earned $2.80 EPS. On average, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company 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 $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.4%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. AvalonBay Communities’s payout ratio is currently 85.47%.

Analysts Set New Price Targets

Several research firms recently commented on AVB. Barclays cut their price target on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating on the stock in a report on Friday, March 6th. Morgan Stanley reiterated an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Colliers Securities reissued a “neutral” rating and issued a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Piper Sandler cut their target price on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $198.44.

AvalonBay Communities Company 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.