Alpha DNA Investment Management LLC purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 170 shares of the real estate investment trust’s stock, valued at approximately $27,000.
A number of other large investors have also bought and sold shares of AVB. Motco boosted its stake in shares of AvalonBay Communities by 6.7% in the fourth quarter. Motco now owns 1,190 shares of the real estate investment trust’s stock worth $191,000 after acquiring an additional 75 shares during the period. Sowell Financial Services LLC grew its holdings in AvalonBay Communities by 14.3% during the 4th quarter. Sowell Financial Services LLC now owns 615 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 77 shares in the last quarter. Red Spruce Capital LLC raised its position in shares of AvalonBay Communities by 2.0% during the fourth quarter. Red Spruce Capital LLC now owns 5,636 shares of the real estate investment trust’s stock valued at $904,000 after buying an additional 109 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of AvalonBay Communities by 9.2% in the fourth quarter. Glenmede Trust Co. NA now owns 1,680 shares of the real estate investment trust’s stock worth $269,000 after buying an additional 142 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of AvalonBay Communities by 0.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 53,943 shares of the real estate investment trust’s stock worth $8,654,000 after acquiring an additional 170 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Zelman & Associates upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, March 23rd. BTIG Research boosted their target price on AvalonBay Communities from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, March 24th. TheStreet upgraded AvalonBay Communities from a “c+” rating to a “b” rating in a report on Wednesday, February 3rd. JPMorgan Chase & Co. downgraded AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a research note on Monday, December 21st. Finally, Morgan Stanley increased their target price on AvalonBay Communities from $186.00 to $203.00 and gave the company an “equal weight” rating in a research report on Monday, March 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $177.25.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Monday, March 15th will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Tuesday, March 30th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $0.01. This represents a $6.36 dividend on an annualized basis and a dividend yield of 3.42%. AvalonBay Communities’s payout ratio is currently 68.09%.
AvalonBay Communities Profile
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").
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