Amundi Sells 31,124 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Amundi trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,873 shares of the real estate investment trust’s stock after selling 31,124 shares during the period. Amundi’s holdings in AvalonBay Communities were worth $79,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Naviter Wealth LLC grew its holdings in AvalonBay Communities by 9.5% during the 4th quarter. Naviter Wealth LLC now owns 9,972 shares of the real estate investment trust’s stock worth $2,210,000 after acquiring an additional 867 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of AvalonBay Communities by 23.8% in the 4th quarter. Larson Financial Group LLC now owns 1,922 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 369 shares in the last quarter. Candriam S.C.A. boosted its holdings in shares of AvalonBay Communities by 0.9% in the 4th quarter. Candriam S.C.A. now owns 19,972 shares of the real estate investment trust’s stock valued at $4,393,000 after buying an additional 175 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $35,153,000. Finally, Arizona State Retirement System boosted its holdings in shares of AvalonBay Communities by 1.4% in the 4th quarter. Arizona State Retirement System now owns 41,307 shares of the real estate investment trust’s stock valued at $9,086,000 after buying an additional 571 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

AVB opened at $213.30 on Wednesday. AvalonBay Communities, Inc. has a 12-month low of $177.40 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 firm has a market capitalization of $30.34 billion, a PE ratio of 28.10, a P/E/G ratio of 3.11 and a beta of 1.00. The firm has a 50 day moving average of $218.61 and a two-hundred day moving average of $223.66.

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 (EPS) 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%. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm 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 is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.28%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVB. Scotiabank lowered 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 report on Thursday, November 14th. Piper Sandler lowered their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Evercore ISI lifted their target price 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, AvalonBay Communities has an average rating of “Moderate Buy” and an average target price 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.