Sentry Investment Management LLC Lowers Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Sentry Investment Management LLC cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 524 shares of the real estate investment trust’s stock after selling 85 shares during the period. Sentry Investment Management LLC’s holdings in AvalonBay Communities were worth $115,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $51,000. Catalyst Capital Advisors LLC lifted its holdings in AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in AvalonBay Communities by 59.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 179 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

AVB stock opened at $221.45 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $218.60 and its two-hundred day simple moving average is $223.23. AvalonBay Communities, Inc. has a twelve month low of $172.85 and a twelve month high of $239.29. The firm has a market cap of $31.50 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.75 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.16%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

Analysts Set New Price Targets

AVB has been the topic of a number of research reports. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Barclays reduced their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Finally, Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.