AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,804 shares of the real estate investment trust’s stock after selling 1,901 shares during the period. Victory Capital Management Inc.’s holdings in AvalonBay Communities were worth $33,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities during the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $36,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities during the 3rd quarter worth approximately $39,000. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities during the 3rd quarter worth approximately $51,000. Finally, Catalyst Capital Advisors LLC grew its holdings in AvalonBay Communities by 312.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

AVB has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted 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. Morgan Stanley downgraded shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, Evercore ISI boosted their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Price Performance

NYSE:AVB opened at $218.45 on Monday. The firm has a market cap of $31.08 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $218.81 and its two-hundred day moving average is $223.73. AvalonBay Communities, Inc. has a 12-month low of $177.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last released 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 net margin of 37.13% and a return on equity of 9.15%. Research analysts expect 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 issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 3.20%. 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 is 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.