National Pension Service Sells 14,740 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

National Pension Service trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 197,669 shares of the real estate investment trust’s stock after selling 14,740 shares during the quarter. National Pension Service’s holdings in AvalonBay Communities were worth $43,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth $26,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth $39,000. Prospera Private Wealth LLC purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth $51,000. Catalyst Capital Advisors LLC increased its stake in shares of AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of AvalonBay Communities by 59.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 179 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.4 %

AVB opened at $226.17 on Friday. The firm has a 50-day simple moving average of $218.79 and a two-hundred day simple moving average of $223.35. AvalonBay Communities, Inc. has a 52 week low of $174.46 and a 52 week high of $239.29. The company has a market capitalization of $32.17 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. 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 (NYSE:AVB) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.75 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.10%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI upped their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Scotiabank cut their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada increased their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Barclays cut their price target on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Moderate Buy” and an average target price of $238.64.

About AvalonBay Communities

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.