Cibc World Market Inc. Has $16.23 Million Stock Position in AvalonBay Communities, Inc. $AVB

Cibc World Market Inc. lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 33.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,016 shares of the real estate investment trust’s stock after purchasing an additional 21,042 shares during the quarter. Cibc World Market Inc. owned about 0.06% of AvalonBay Communities worth $16,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of AvalonBay Communities by 5.7% during the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after purchasing an additional 148 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of AvalonBay Communities by 10.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 1,196 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 111 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in AvalonBay Communities by 11.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,796 shares of the real estate investment trust’s stock valued at $3,011,000 after acquiring an additional 1,531 shares in the last quarter. CWM LLC boosted its stake in AvalonBay Communities by 133.4% during the 2nd quarter. CWM LLC now owns 4,323 shares of the real estate investment trust’s stock valued at $880,000 after purchasing an additional 2,471 shares during the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of AvalonBay Communities by 16.2% in the second quarter. MGO One Seven LLC now owns 2,618 shares of the real estate investment trust’s stock valued at $533,000 after purchasing an additional 365 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $175.47 on Friday. The firm has a market capitalization of $24.85 billion, a PE ratio of 23.78, a P/E/G ratio of 3.16 and a beta of 0.76. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $178.78 and a two-hundred day moving average price of $184.17. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $230.21.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The business had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same period in the previous year, the business earned $2.80 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. AvalonBay Communities’s payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

AVB has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Scotiabank cut their target price on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Truist Financial dropped their price target on AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Morgan Stanley cut their price target on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Finally, Wells Fargo & Company decreased their price objective on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $201.10.

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.