M&G Investment Management Ltd. Acquires Shares of 2,918 AvalonBay Communities, Inc. (NYSE:AVB)

Posted by on Apr 11th, 2023

M&G Investment Management Ltd. bought a new position in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,918 shares of the real estate investment trust’s stock, valued at approximately $473,000.

Several other institutional investors also recently modified their holdings of AVB. Parkside Financial Bank & Trust increased its position in shares of AvalonBay Communities by 100.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Adirondack Retirement Specialists Inc. purchased a new stake in AvalonBay Communities during the third quarter worth about $38,000. CVA Family Office LLC raised its position in AvalonBay Communities by 1,333.3% in the third quarter. CVA Family Office LLC now owns 215 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 200 shares during the period. IFP Advisors Inc boosted its stake in AvalonBay Communities by 51.9% in the third quarter. IFP Advisors Inc now owns 243 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 83 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of AvalonBay Communities during the 1st quarter valued at approximately $69,000. 87.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on AVB shares. Barclays raised their target price on AvalonBay Communities from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft cut AvalonBay Communities from a “buy” rating to a “hold” rating and lowered their price objective for the company from $194.00 to $179.00 in a research note on Wednesday, January 4th. StockNews.com initiated coverage on shares of AvalonBay Communities in a research report on Thursday, March 16th. They set a “hold” rating for the company. Morgan Stanley boosted their price target on shares of AvalonBay Communities from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 1st. Finally, Wells Fargo & Company began coverage on shares of AvalonBay Communities in a research note on Wednesday, March 29th. They issued an “overweight” rating and a $184.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $201.21.

AvalonBay Communities Stock Performance

Shares of AVB opened at $168.62 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average price of $171.21 and a 200-day moving average price of $170.79. The company has a market cap of $23.59 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 3.09 and a beta of 0.91. AvalonBay Communities, Inc. has a 12-month low of $153.07 and a 12-month high of $258.81.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a dividend of $1.65 per share. The ex-dividend date is Thursday, March 30th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.59. This represents a $6.60 annualized dividend and a yield of 3.91%. AvalonBay Communities’s payout ratio is presently 81.38%.

AvalonBay Communities Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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