Korea Investment CORP Decreases Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Korea Investment CORP decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,010 shares of the real estate investment trust’s stock after selling 19,374 shares during the quarter. Korea Investment CORP owned 0.09% of AvalonBay Communities worth $27,718,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AVB. Whipplewood Advisors LLC purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth $36,000. Brooklyn Investment Group acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth about $39,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth about $44,000. Generali Asset Management SPA SGR purchased a new stake in AvalonBay Communities during the fourth quarter worth approximately $66,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in AvalonBay Communities by 312.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $213.50 on Friday. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The company has a 50-day moving average price of $217.50 and a 200 day moving average price of $222.49. The company has a market cap of $30.37 billion, a P/E ratio of 28.13, a PEG ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last posted 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%. Research 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.75 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.28%. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Wall Street Analysts Forecast Growth

AVB has been the subject of several research analyst reports. Evercore ISI upped their target price 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. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Truist Financial lifted their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Barclays decreased their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities 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.