Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 27.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,708 shares of the real estate investment trust’s stock after purchasing an additional 25,922 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AvalonBay Communities were worth $26,112,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities during the 3rd quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in shares of AvalonBay Communities during the fourth quarter valued at about $36,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities during the third quarter worth about $39,000. Prospera Private Wealth LLC acquired a new position in shares of AvalonBay Communities in the third quarter worth about $51,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in AvalonBay Communities by 312.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 275 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their target price for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. 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. Piper Sandler cut their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Evercore ISI lifted their target price 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.64.

AvalonBay Communities Stock Down 1.4 %

AvalonBay Communities stock opened at $213.30 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a one year low of $177.40 and a one year high of $239.29. The company has a 50-day simple moving average of $218.61 and a 200-day simple moving average of $223.66. The firm has a market capitalization of $30.34 billion, a P/E ratio of 28.10, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. As a group, equities analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share 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 paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a yield of 3.28%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s payout ratio is presently 92.23%.

AvalonBay Communities 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.