Ameriprise Financial Inc. Trims Holdings in AvalonBay Communities, Inc. $AVB

Ameriprise Financial Inc. lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,663,663 shares of the real estate investment trust’s stock after selling 7,064 shares during the period. Ameriprise Financial Inc. owned approximately 1.17% of AvalonBay Communities worth $321,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVB. Norges Bank purchased a new position in AvalonBay Communities during the 2nd quarter worth approximately $1,394,225,000. Invesco Ltd. boosted its holdings in shares of AvalonBay Communities by 70.2% in the 2nd quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock valued at $527,823,000 after acquiring an additional 1,069,793 shares during the last quarter. Bank of America Corp DE increased its stake in shares of AvalonBay Communities by 77.1% in 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 acquiring an additional 582,724 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of AvalonBay Communities by 23.2% in 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 acquiring an additional 530,274 shares during the period. Finally, Bahl & Gaynor Inc. raised its holdings in shares of AvalonBay Communities by 126.5% during the third quarter. Bahl & Gaynor Inc. now owns 555,832 shares of the real estate investment trust’s stock worth $107,370,000 after purchasing an additional 310,412 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Barclays reduced their price objective on AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, March 6th. Wall Street Zen cut AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Truist Financial lowered their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a report on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $198.75.

AvalonBay Communities Trading Up 0.1%

AVB stock opened at $169.20 on Tuesday. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $217.32. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The firm has a market cap of $23.70 billion, a P/E ratio of 20.66, a PEG ratio of 2.96 and a beta of 0.75. The company’s 50-day simple moving average is $177.03 and its 200-day simple moving average is $181.87.

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

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 annualized dividend and a yield of 4.2%. AvalonBay Communities’s dividend payout ratio is 85.47%.

About AvalonBay Communities

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.