Kensington Investment Counsel LLC Raises Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Kensington Investment Counsel LLC raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 40.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,646 shares of the real estate investment trust’s stock after purchasing an additional 4,491 shares during the quarter. AvalonBay Communities accounts for about 1.4% of Kensington Investment Counsel LLC’s investment portfolio, making the stock its 26th largest position. Kensington Investment Counsel LLC’s holdings in AvalonBay Communities were worth $3,442,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities during the third quarter valued at approximately $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $51,000. Finally, Catalyst Capital Advisors LLC lifted its holdings 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 valued at $80,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 1.0 %

Shares of AVB opened at $211.70 on Tuesday. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. The company has a market cap of $30.12 billion, a P/E ratio of 27.89, a P/E/G ratio of 3.11 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $218.01 and its 200-day simple moving average is $223.32.

AvalonBay Communities (NYSE:AVB) last announced 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%. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.31%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Analyst Ratings Changes

Several brokerages have weighed in on AVB. Morgan Stanley downgraded shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $236.00 to $223.00 in a report on Friday, January 24th. Evercore ISI boosted their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Truist Financial boosted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Piper Sandler lowered their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. 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 data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

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.