RFG Advisory LLC Sells 89 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

RFG Advisory LLC lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVBGet Rating) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,058 shares of the real estate investment trust’s stock after selling 89 shares during the quarter. RFG Advisory LLC’s holdings in AvalonBay Communities were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lynch Asset Management Inc. bought a new stake in AvalonBay Communities in the fourth quarter valued at about $3,031,000. Heritage Wealth Advisors grew its stake in AvalonBay Communities by 8.7% during the fourth quarter. Heritage Wealth Advisors now owns 3,122 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 250 shares during the last quarter. Fifth Third Bancorp grew its stake in AvalonBay Communities by 39.2% during the fourth quarter. Fifth Third Bancorp now owns 22,025 shares of the real estate investment trust’s stock worth $5,563,000 after buying an additional 6,207 shares during the last quarter. Danda Trouve Investment Management Inc. grew its stake in AvalonBay Communities by 105.6% during the fourth quarter. Danda Trouve Investment Management Inc. now owns 259 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 133 shares during the last quarter. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in AvalonBay Communities during the fourth quarter worth about $25,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of AVB opened at $249.61 on Monday. The firm has a 50-day moving average of $243.99 and a 200-day moving average of $241.22. AvalonBay Communities, Inc. has a one year low of $184.85 and a one year high of $259.05. The company has a market cap of $34.88 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 5.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.57.

AvalonBay Communities (NYSE:AVBGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The real estate investment trust reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $1.40. AvalonBay Communities had a net margin of 43.76% and a return on equity of 9.28%. During the same period in the prior year, the firm posted $2.02 earnings per share. Analysts expect that AvalonBay Communities, Inc. will post 9.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Thursday, March 31st will be paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, March 30th. AvalonBay Communities’s dividend payout ratio is presently 88.46%.

Several brokerages have weighed in on AVB. Barclays raised shares of AvalonBay Communities from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $225.00 to $263.00 in a research note on Tuesday, January 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. KeyCorp increased their price target on shares of AvalonBay Communities from $255.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, January 13th. BTIG Research increased their target price on shares of AvalonBay Communities from $289.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 13th. Finally, Truist Financial cut their target price on shares of AvalonBay Communities from $266.00 to $263.00 and set a “hold” rating on the stock in a report on Monday, March 7th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $259.44.

AvalonBay Communities Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

See Also

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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