AvalonBay Communities, Inc. $AVB Stock Position Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 729,002 shares of the real estate investment trust’s stock after selling 9,914 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in AvalonBay Communities were worth $132,175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mather Group LLC. bought a new position in shares of AvalonBay Communities in the third quarter worth $30,000. BOKF NA bought a new position in AvalonBay Communities during the third quarter valued at about $31,000. AlphaQuest LLC bought a new position in AvalonBay Communities during the third quarter valued at about $33,000. Headlands Technologies LLC bought a new position in AvalonBay Communities during the second quarter valued at about $36,000. Finally, Fulcrum Asset Management LLP bought a new position in AvalonBay Communities during the third quarter valued at about $37,000. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank decreased their target price on AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 4th. Truist Financial decreased their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Piper Sandler decreased their target price on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. UBS Group decreased their target price on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, Cantor Fitzgerald raised their target price on AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $197.00.

AvalonBay Communities Trading Down 0.2%

Shares of AVB stock opened at $169.45 on Tuesday. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $213.34. The stock has a market capitalization of $23.57 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.98 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The stock has a 50-day simple moving average of $171.72 and a 200 day simple moving average of $177.92.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The business had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. During the same period in the prior year, the business posted $2.80 earnings per share. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.78 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 86.94%.

AvalonBay Communities Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.