ExodusPoint Capital Management LP Has $43.93 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

ExodusPoint Capital Management LP raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,729 shares of the real estate investment trust’s stock after acquiring an additional 14,228 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.14% of AvalonBay Communities worth $43,934,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Erste Asset Management GmbH bought a new position in AvalonBay Communities during the 3rd quarter valued at about $1,757,000. Benjamin Edwards Inc. raised its stake in shares of AvalonBay Communities by 203.4% in the third quarter. Benjamin Edwards Inc. now owns 6,210 shares of the real estate investment trust’s stock valued at $1,399,000 after acquiring an additional 4,163 shares during the last quarter. Centiva Capital LP boosted its holdings in shares of AvalonBay Communities by 36.7% in the 3rd quarter. Centiva Capital LP now owns 5,890 shares of the real estate investment trust’s stock worth $1,327,000 after acquiring an additional 1,581 shares in the last quarter. Holocene Advisors LP bought a new stake in AvalonBay Communities during the 3rd quarter worth approximately $3,750,000. Finally, Janus Henderson Group PLC increased its holdings in AvalonBay Communities by 11.6% during the 3rd quarter. Janus Henderson Group PLC now owns 416,461 shares of the real estate investment trust’s stock valued at $93,790,000 after purchasing an additional 43,206 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the topic of a number of recent analyst reports. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Truist Financial upped their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Piper Sandler lowered 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 report on Tuesday, February 11th. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Finally, Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities has an average rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Stock Performance

AVB stock opened at $216.01 on Thursday. 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, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. The business’s fifty day moving average is $217.37 and its 200-day moving average is $222.09. The company has a market cap of $30.73 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last issued its earnings results 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%. Equities research analysts forecast 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. Shareholders of record on Monday, March 31st will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.24%. 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. AvalonBay Communities’s dividend payout ratio is presently 92.23%.

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.