DnB Asset Management AS Increases Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

DnB Asset Management AS increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,385 shares of the real estate investment trust’s stock after buying an additional 351 shares during the period. DnB Asset Management AS’s holdings in AvalonBay Communities were worth $6,024,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of AvalonBay Communities in the third quarter worth $215,000. The Manufacturers Life Insurance Company boosted its stake in AvalonBay Communities by 2.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 112,392 shares of the real estate investment trust’s stock worth $25,316,000 after purchasing an additional 2,702 shares during the period. Townsquare Capital LLC grew its holdings in AvalonBay Communities by 42.0% during the 3rd quarter. Townsquare Capital LLC now owns 4,900 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 1,450 shares in the last quarter. Fiduciary Trust Co increased its position in shares of AvalonBay Communities by 59.5% during the third quarter. Fiduciary Trust Co now owns 2,611 shares of the real estate investment trust’s stock valued at $588,000 after buying an additional 974 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in shares of AvalonBay Communities by 25.5% in the third quarter. Public Sector Pension Investment Board now owns 24,776 shares of the real estate investment trust’s stock worth $5,581,000 after buying an additional 5,042 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Up 0.2 %

Shares of AVB opened at $213.50 on Monday. AvalonBay Communities, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 3.11 and a beta of 1.00. The firm has a 50 day moving average price of $217.50 and a 200-day moving average price of $222.39. 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 posted its quarterly 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 return on equity of 9.15% and a net margin of 37.13%. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.28%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler dropped their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, AvalonBay Communities currently has an average rating of “Moderate Buy” and an average 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.