AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,958 shares of the real estate investment trust’s stock after selling 542 shares during the quarter. American Assets Capital Advisers LLC’s holdings in AvalonBay Communities were worth $871,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock valued at $386,315,000 after acquiring an additional 1,494,872 shares during the period. State Street Corp increased its holdings in shares of AvalonBay Communities by 2.2% during the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock valued at $2,097,971,000 after purchasing an additional 196,938 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of AvalonBay Communities by 51.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust’s stock valued at $121,927,000 after purchasing an additional 188,906 shares during the period. Raymond James Financial Inc. purchased a new stake in AvalonBay Communities during the fourth quarter worth $35,153,000. Finally, Proficio Capital Partners LLC acquired a new stake in AvalonBay Communities during the fourth quarter valued at $23,513,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Truist Financial boosted their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Mizuho raised 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 note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Price Performance

AVB stock opened at $209.55 on Friday. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $29.81 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The business has a 50 day simple moving average of $218.02 and a 200-day simple moving average of $223.40.

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 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%. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal 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 dividend of $1.75 per share. 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 dividend on an annualized basis and a yield of 3.34%. AvalonBay Communities’s payout ratio is 92.23%.

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.