Brinker Capital Investments LLC lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 78.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,481 shares of the real estate investment trust’s stock after selling 8,875 shares during the period. Brinker Capital Investments LLC’s holdings in AvalonBay Communities were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its stake in shares of AvalonBay Communities by 100.0% during the third quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 72 shares during the period. Ronald Blue Trust Inc. bought a new position in AvalonBay Communities during the 2nd quarter worth $43,000. Brown Brothers Harriman & Co. bought a new position in AvalonBay Communities during the 1st quarter worth $69,000. Clear Street Markets LLC increased its stake in AvalonBay Communities by 414.0% during the 2nd quarter. Clear Street Markets LLC now owns 293 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 236 shares during the period. Finally, CX Institutional bought a new position in AvalonBay Communities during the 2nd quarter worth $58,000. Institutional investors own 87.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Piper Sandler lowered AvalonBay Communities from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $189.00 to $160.00 in a research note on Monday, November 7th. TheStreet lowered AvalonBay Communities from a “b-” rating to a “c+” rating in a research note on Friday, October 14th. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $225.00 to $187.00 in a research note on Friday, December 2nd. StockNews.com assumed coverage on AvalonBay Communities in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lowered AvalonBay Communities from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $206.00 to $197.00 in a research note on Friday, December 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $202.78.
AvalonBay Communities Trading Up 1.6 %
AvalonBay Communities Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Thursday, December 29th. AvalonBay Communities’s dividend payout ratio (DPR) is 72.36%.
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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.
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