Parallel Advisors LLC Buys 328 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Parallel Advisors LLC boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,451 shares of the real estate investment trust’s stock after purchasing an additional 328 shares during the quarter. Parallel Advisors LLC’s holdings in AvalonBay Communities were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $36,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $39,000. Catalyst Capital Advisors LLC raised its holdings in shares of AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of AvalonBay Communities by 59.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 179 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AVB shares. Truist Financial raised their price target on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a report on Monday, March 10th. Royal Bank of Canada raised their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $236.00 to $223.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $239.00 to $242.00 in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $209.49 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The business’s 50 day simple moving average is $217.90 and its two-hundred day simple moving average is $222.90. The stock has a market capitalization of $29.80 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a one year low of $177.40 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results 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%. Analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.75 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 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.