AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,804 shares of the real estate investment trust’s stock after selling 1,901 shares during the quarter. Victory Capital Management Inc. owned approximately 0.11% of AvalonBay Communities worth $33,172,000 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AvalonBay Communities by 678.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock valued at $386,315,000 after buying an additional 1,494,872 shares during the period. State Street Corp grew its position in AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock valued at $2,097,971,000 after buying an additional 196,938 shares during the period. KBC Group NV grew its position in AvalonBay Communities by 284.8% during the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust’s stock valued at $32,983,000 after buying an additional 108,371 shares during the period. Proficio Capital Partners LLC purchased a new position in AvalonBay Communities during the fourth quarter valued at $23,513,000. Finally, BNP Paribas Financial Markets lifted its holdings in AvalonBay Communities by 54.8% during the third quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust’s stock valued at $58,459,000 after purchasing an additional 91,861 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AVB shares. Evercore ISI increased their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Scotiabank decreased their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.64.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $218.45 on Monday. AvalonBay Communities, Inc. has a 12 month low of $177.40 and a 12 month high of $239.29. The company has a market capitalization of $31.08 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The firm’s 50-day moving average is $218.81 and its two-hundred day moving average is $223.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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 net margin of 37.13% and a return on equity of 9.15%. Analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.20%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

AvalonBay Communities Company Profile

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.