Vert Asset Management LLC Buys 4,817 Shares of AvalonBay Communities, Inc. $AVB

Vert Asset Management LLC increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,583 shares of the real estate investment trust’s stock after acquiring an additional 4,817 shares during the quarter. AvalonBay Communities makes up 4.2% of Vert Asset Management LLC’s holdings, making the stock its 9th largest holding. Vert Asset Management LLC’s holdings in AvalonBay Communities were worth $12,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. acquired a new position in shares of AvalonBay Communities in the 3rd quarter worth $30,000. BOKF NA purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $31,000. AlphaQuest LLC acquired a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $33,000. Headlands Technologies LLC acquired a new stake in shares of AvalonBay Communities during the 2nd quarter valued at about $36,000. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $37,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

AVB opened at $173.82 on Monday. The company has a market cap of $24.18 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.75. The stock has a 50-day moving average of $171.52 and a 200-day moving average of $177.30. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $213.34. 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 (NYSE:AVB) last released its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The company had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. During the same quarter in the prior year, the company posted $2.80 EPS. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s payout ratio is presently 86.94%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Citigroup reduced their price target on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, February 13th. UBS Group decreased their price target on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Piper Sandler decreased their price target on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average target price of $197.00.

AvalonBay Communities 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.