Red Spruce Capital LLC Sells 132 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Red Spruce Capital LLC decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,413 shares of the real estate investment trust’s stock after selling 132 shares during the quarter. Red Spruce Capital LLC’s holdings in AvalonBay Communities were worth $1,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ancora Advisors LLC lifted its holdings in shares of AvalonBay Communities by 1,666.7% in the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the 4th quarter worth $36,000. Crowley Wealth Management Inc. bought a new stake in AvalonBay Communities in the fourth quarter worth $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AvalonBay Communities during the fourth quarter valued at about $53,000. Finally, Continuum Advisory LLC grew its stake in shares of AvalonBay Communities by 12,200.0% during the fourth quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of several analyst reports. Mizuho dropped their target price on AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating for the company in a report on Friday, May 23rd. Truist Financial raised 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. BMO Capital Markets lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target for the company. in a report on Friday, April 4th. Barclays raised their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Finally, Royal Bank of Canada dropped their target price on shares of AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $237.86.

AvalonBay Communities Stock Up 2.0%

AVB stock opened at $206.04 on Friday. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The company has a market capitalization of $29.33 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The business’s 50 day moving average price is $204.33 and its two-hundred day moving average price is $215.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same period in the previous year, the company posted $2.70 earnings per share. As a group, analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.40%. The ex-dividend date is Monday, June 30th. AvalonBay Communities’s payout ratio is currently 87.17%.

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.