Crowley Wealth Management Inc. Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Crowley Wealth Management Inc. bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, HoldingsChannel.com reports. The firm bought 200 shares of the real estate investment trust’s stock, valued at approximately $44,000.

Several other large investors have also modified their holdings of the stock. Empowered Funds LLC boosted its stake in AvalonBay Communities by 10.3% during the 3rd quarter. Empowered Funds LLC now owns 2,337 shares of the real estate investment trust’s stock worth $526,000 after purchasing an additional 218 shares during the period. PNC Financial Services Group Inc. boosted its stake in AvalonBay Communities by 25.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 19,205 shares of the real estate investment trust’s stock worth $4,326,000 after purchasing an additional 3,920 shares during the period. Raymond James Trust N.A. boosted its stake in AvalonBay Communities by 3.1% during the 3rd quarter. Raymond James Trust N.A. now owns 2,015 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 60 shares during the period. Citigroup Inc. boosted its stake in AvalonBay Communities by 9.2% during the 3rd quarter. Citigroup Inc. now owns 201,788 shares of the real estate investment trust’s stock worth $45,453,000 after purchasing an additional 17,036 shares during the period. Finally, Cerity Partners LLC boosted its stake in AvalonBay Communities by 11.2% during the 3rd quarter. Cerity Partners LLC now owns 59,714 shares of the real estate investment trust’s stock worth $13,451,000 after purchasing an additional 5,993 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB opened at $209.49 on Monday. The company has a 50-day simple moving average of $217.90 and a 200-day simple moving average of $222.87. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $29.80 billion, a PE ratio of 27.60, a P/E/G ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 52-week low of $177.40 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal 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 issued a dividend of $1.75 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Barclays reduced their target price on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

About AvalonBay Communities

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.