Avanza Fonder AB Has $2.31 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Avanza Fonder AB reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.4% in the 1st quarter, HoldingsChannel reports. The firm owned 10,734 shares of the real estate investment trust’s stock after selling 264 shares during the period. Avanza Fonder AB’s holdings in AvalonBay Communities were worth $2,314,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AVB. Ancora Advisors LLC lifted its stake in shares of AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 150 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth about $36,000. Crowley Wealth Management Inc. acquired a new stake in AvalonBay Communities during the fourth quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AvalonBay Communities during the fourth quarter worth approximately $53,000. Finally, Continuum Advisory LLC lifted its position in AvalonBay Communities by 12,200.0% during the fourth quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 244 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $206.40 on Thursday. The firm has a 50 day moving average of $203.41 and a 200-day moving average of $213.85. The stock has a market capitalization of $29.38 billion, a PE ratio of 27.19, a PEG ratio of 3.11 and a beta of 0.86. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29.

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

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.75 per share. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.39%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 87.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AVB shares. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Mizuho dropped their price target on AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating for the company in a report on Friday, May 23rd. Morgan Stanley lifted their target price on AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. Truist Financial lifted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Royal Bank of Canada dropped their price objective on shares of AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average target price of $237.86.

About AvalonBay Communities

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.