APG Asset Management US Inc. Reduces Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

APG Asset Management US Inc. trimmed its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,038 shares of the real estate investment trust's stock after selling 33,305 shares during the quarter. AvalonBay Communities makes up about 0.3% of APG Asset Management US Inc.'s portfolio, making the stock its 27th biggest holding. APG Asset Management US Inc. owned 0.14% of AvalonBay Communities worth $43,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in AvalonBay Communities during the fourth quarter worth $35,153,000. APG Asset Management N.V. boosted its holdings in shares of AvalonBay Communities by 226.8% during the fourth quarter. APG Asset Management N.V. now owns 123,206 shares of the real estate investment trust's stock worth $26,172,000 after acquiring an additional 85,510 shares during the period. Invesco Ltd. boosted its stake in AvalonBay Communities by 13.4% in the 4th quarter. Invesco Ltd. now owns 1,449,566 shares of the real estate investment trust's stock valued at $318,861,000 after purchasing an additional 170,952 shares during the period. Employees Retirement System of Texas grew its stake in shares of AvalonBay Communities by 9.5% in the fourth quarter. Employees Retirement System of Texas now owns 84,000 shares of the real estate investment trust's stock valued at $18,477,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Polymer Capital Management US LLC acquired a new stake in AvalonBay Communities in the 4th quarter worth about $826,000. Institutional investors own 92.61% of the company's stock.

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AvalonBay Communities Stock Performance

AvalonBay Communities stock traded up $4.95 during trading on Monday, hitting $197.95. The stock had a trading volume of 243,786 shares, compared to its average volume of 687,411. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The stock's 50 day moving average is $213.02 and its two-hundred day moving average is $219.81.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. As a group, analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, March 31st. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio (DPR) is presently 92.23%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVB. Piper Sandler lowered their target price 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 AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Barclays boosted their price target on AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Royal Bank of Canada boosted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, AvalonBay Communities currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.

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.