New York State Common Retirement Fund Decreases Position in AvalonBay Communities, Inc. (NYSE:AVB)

New York State Common Retirement Fund trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,431 shares of the real estate investment trust’s stock after selling 5,100 shares during the period. New York State Common Retirement Fund’s holdings in AvalonBay Communities were worth $22,092,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of AvalonBay Communities in the third quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities in the 3rd quarter valued at $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the 3rd quarter valued at $51,000. Catalyst Capital Advisors LLC boosted its stake in AvalonBay Communities by 312.5% during 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of AvalonBay Communities by 59.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 179 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 0.3 %

Shares of NYSE:AVB opened at $218.78 on Friday. The business has a 50-day moving average price of $218.76 and a 200 day moving average price of $222.86. AvalonBay Communities, Inc. has a 12-month low of $172.85 and a 12-month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $31.12 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.09 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) 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%. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.20%. 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. AvalonBay Communities’s dividend payout ratio is 92.23%.

Analyst Ratings Changes

AVB has been the topic of several research reports. Evercore ISI raised their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Scotiabank decreased their target price 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. Barclays dropped their price target on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research report on Wednesday. Mizuho upgraded 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 report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.47.

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.