O Shaughnessy Asset Management LLC Buys 3,564 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

O Shaughnessy Asset Management LLC boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 31.2% in the fourth quarter, Holdings Channel reports. The firm owned 14,998 shares of the real estate investment trust’s stock after purchasing an additional 3,564 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in AvalonBay Communities were worth $3,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at approximately $36,000. Crowley Wealth Management Inc. bought a new position in AvalonBay Communities in the fourth quarter valued at approximately $44,000. Generali Asset Management SPA SGR acquired a new position in AvalonBay Communities during the fourth quarter valued at approximately $66,000. Catalyst Capital Advisors LLC lifted its stake in AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of AvalonBay Communities by 42.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $205.58 on Friday. The stock’s 50-day simple moving average is $217.21 and its two-hundred day simple moving average is $221.97. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. The firm has a market capitalization of $29.25 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (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%. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 31st. 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 3.40%. AvalonBay Communities’s payout ratio is currently 92.23%.

Analysts Set New Price Targets

AVB has been the subject of several research analyst reports. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Piper Sandler dropped their price objective 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. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Company 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.