AvalonBay Communities, Inc. (NYSE:AVB) Stake Raised by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,512 shares of the real estate investment trust’s stock after purchasing an additional 1,733 shares during the quarter. HighTower Advisors LLC’s holdings in AvalonBay Communities were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Adirondack Retirement Specialists Inc. bought a new position in shares of AvalonBay Communities in the third quarter worth $38,000. IFP Advisors Inc grew its position in AvalonBay Communities by 51.9% in the 3rd quarter. IFP Advisors Inc now owns 243 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 83 shares in the last quarter. CVA Family Office LLC increased its stake in AvalonBay Communities by 1,333.3% during the 3rd quarter. CVA Family Office LLC now owns 215 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 200 shares during the period. Core Alternative Capital raised its position in shares of AvalonBay Communities by 769.2% during the 4th quarter. Core Alternative Capital now owns 339 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 300 shares in the last quarter. Finally, PFG Private Wealth Management LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter worth approximately $64,000. 87.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $176.10, for a total transaction of $704,400.00. Following the transaction, the executive now directly owns 62,559 shares of the company’s stock, valued at $11,016,639.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by insiders.

AvalonBay Communities Stock Down 1.8 %

NYSE:AVB opened at $172.05 on Thursday. The business’s fifty day moving average price is $171.18 and its 200 day moving average price is $170.59. The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.95 and a beta of 0.92. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. AvalonBay Communities, Inc. has a 1-year low of $153.07 and a 1-year high of $220.42.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.84%. AvalonBay Communities’s dividend payout ratio is 90.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVB shares. TheStreet raised AvalonBay Communities from a “c+” rating to a “b” rating in a report on Wednesday, April 19th. Barclays raised their target price on AvalonBay Communities from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 1st. StockNews.com initiated coverage on shares of AvalonBay Communities in a report on Thursday, May 18th. They issued a “hold” rating for the company. Citigroup lifted their price objective on shares of AvalonBay Communities from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 14th. Finally, Piper Sandler raised shares of AvalonBay Communities from an “underweight” rating to a “neutral” rating and increased their target price for the company from $160.00 to $193.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $201.68.

AvalonBay Communities Profile

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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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.