Allianz Asset Management GmbH Has $42.44 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Allianz Asset Management GmbH cut its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,930 shares of the real estate investment trust’s stock after selling 4,445 shares during the period. Allianz Asset Management GmbH owned 0.14% of AvalonBay Communities worth $42,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. acquired a new position in AvalonBay Communities in the fourth quarter valued at about $528,000. Handelsbanken Fonder AB boosted its position in AvalonBay Communities by 9.0% in the fourth quarter. Handelsbanken Fonder AB now owns 91,673 shares of the real estate investment trust’s stock valued at $20,165,000 after buying an additional 7,605 shares in the last quarter. Ieq Capital LLC boosted its position in AvalonBay Communities by 79.9% in the fourth quarter. Ieq Capital LLC now owns 4,828 shares of the real estate investment trust’s stock valued at $1,062,000 after buying an additional 2,145 shares in the last quarter. Private Advisor Group LLC boosted its position in AvalonBay Communities by 2.6% in the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 63 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of AvalonBay Communities by 146.2% during the fourth quarter. Global Retirement Partners LLC now owns 544 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 323 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 0.3 %

Shares of NYSE:AVB opened at $218.78 on Friday. AvalonBay Communities, Inc. has a 52 week low of $172.85 and a 52 week high of $239.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $31.12 billion, a PE ratio of 28.82, a PEG ratio of 3.12 and a beta of 0.99. The company has a 50 day moving average price of $218.76 and a two-hundred day moving average price of $222.96.

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

AvalonBay Communities Increases Dividend

The company 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 represents a $7.00 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is presently 89.59%.

Wall Street Analysts Forecast Growth

AVB has been the topic of a number of research reports. Barclays reduced their target price on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.64.

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.