AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,241 shares of the real estate investment trust’s stock after selling 370 shares during the quarter. Fiduciary Trust Co’s holdings in AvalonBay Communities were worth $493,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at about $1,499,050,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of AvalonBay Communities by 35.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock valued at $1,133,328,000 after buying an additional 1,336,698 shares during the period. Northern Trust Corp lifted its holdings in shares of AvalonBay Communities by 54.8% in the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock valued at $581,324,000 after buying an additional 935,770 shares during the period. Wellington Management Group LLP lifted its holdings in shares of AvalonBay Communities by 49.9% in the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust’s stock valued at $547,500,000 after buying an additional 828,009 shares during the period. Finally, Cohen & Steers Inc. lifted its holdings in shares of AvalonBay Communities by 25.7% in the 4th quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust’s stock valued at $688,527,000 after buying an additional 639,402 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

NYSE:AVB opened at $205.40 on Monday. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The stock has a 50 day moving average of $206.99 and a two-hundred day moving average of $217.40. 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 cap of $29.24 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The company had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. During the same period in the previous year, the business earned $2.70 EPS. On average, analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price objective on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Evercore ISI boosted their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Barclays boosted their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $238.86.

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.