Red Spruce Capital LLC Has $1.66 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Red Spruce Capital LLC raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,545 shares of the real estate investment trust’s stock after buying an additional 144 shares during the period. Red Spruce Capital LLC’s holdings in AvalonBay Communities were worth $1,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new stake in AvalonBay Communities during the third quarter valued at $26,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $39,000. Mather Group LLC. increased its holdings in AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the last quarter. Prospera Private Wealth LLC bought a new position in AvalonBay Communities during the third quarter valued at approximately $51,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in AvalonBay Communities by 59.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 179 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

AvalonBay Communities Stock Performance

NYSE AVB opened at $219.17 on Wednesday. The company has a 50 day moving average of $224.19 and a 200-day moving average of $220.93. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 3.04 and a beta of 0.99.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same quarter in the prior year, the company earned $2.66 earnings per share. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $1.70 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

Analysts Set New Price Targets

AVB has been the subject of several analyst reports. Royal Bank of Canada reduced their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Barclays began coverage on AvalonBay Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $243.00 price target on the stock. Scotiabank decreased their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. 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 report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $234.53.

Read Our Latest Stock Analysis on AVB

About AvalonBay Communities

(Free Report)

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.

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

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