American Century Companies Inc. Trims Stock Position in AvalonBay Communities, Inc. $AVB

American Century Companies Inc. trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 9.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 243,316 shares of the real estate investment trust’s stock after selling 25,985 shares during the quarter. American Century Companies Inc. owned 0.17% of AvalonBay Communities worth $47,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVB. Mather Group LLC. acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at about $30,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. AlphaQuest LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new position in AvalonBay Communities in the second quarter valued at approximately $36,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in AvalonBay Communities in the 2nd quarter worth approximately $59,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 0.5%

Shares of AVB opened at $179.07 on Friday. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $223.25. The stock has a market cap of $25.08 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.12 and a beta of 0.75. The firm’s fifty day moving average is $178.35 and its two-hundred day moving average is $182.94. The company has a quick ratio of 0.67, a current ratio of 0.77 and a debt-to-equity ratio of 0.79.

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

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 86.94%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVB. Barclays lifted their target price on shares of AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a research report on Tuesday, January 20th. Citigroup decreased their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. UBS Group lowered their target price on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada cut their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $200.59.

AvalonBay Communities 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.