Farther Finance Advisors LLC Lowers Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Farther Finance Advisors LLC decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,005 shares of the real estate investment trust’s stock after selling 134 shares during the quarter. Farther Finance Advisors LLC’s holdings in AvalonBay Communities were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AVB. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities during the third quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities during the fourth quarter worth approximately $36,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities during the third quarter worth approximately $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the third quarter worth approximately $51,000. Finally, Catalyst Capital Advisors LLC boosted its position in AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $210.66 on Thursday. AvalonBay Communities, Inc. has a one year low of $177.40 and a one year high of $239.29. The company has a market cap of $29.97 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The business’s 50 day moving average price is $217.95 and its 200 day moving average price is $223.12.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.32%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s payout ratio is currently 92.23%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVB. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Evercore ISI increased their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Piper Sandler lowered their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Finally, Truist Financial lifted their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Company Profile

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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.