AvalonBay Communities, Inc. $AVB Shares Sold by Avalon Trust Co

Avalon Trust Co lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 91.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,010 shares of the real estate investment trust’s stock after selling 62,642 shares during the period. Avalon Trust Co’s holdings in AvalonBay Communities were worth $1,161,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in AvalonBay Communities in the 2nd quarter valued at about $1,394,225,000. Invesco Ltd. grew its holdings in AvalonBay Communities by 70.2% in the second quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock valued at $527,823,000 after purchasing an additional 1,069,793 shares during the period. Bank of America Corp DE increased its position in AvalonBay Communities by 77.1% during the second quarter. Bank of America Corp DE now owns 1,338,552 shares of the real estate investment trust’s stock worth $272,395,000 after purchasing an additional 582,724 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in AvalonBay Communities by 23.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock worth $573,091,000 after purchasing an additional 530,274 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in AvalonBay Communities by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock worth $814,376,000 after purchasing an additional 249,171 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Down 0.1%

AVB opened at $177.32 on Monday. The firm’s 50 day moving average is $178.84 and its 200-day moving average is $183.51. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $230.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $25.11 billion, a P/E ratio of 21.65, a P/E/G ratio of 3.12 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The business had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same period last year, the business earned $2.80 EPS. Analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. AvalonBay Communities’s dividend payout ratio is presently 85.47%.

Analyst Ratings Changes

AVB has been the topic of several research reports. Morgan Stanley cut their target price on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Mizuho cut their price objective on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Piper Sandler dropped their target price on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. Wells Fargo & Company reduced their price target on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Finally, Scotiabank dropped their price objective on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $200.91.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.