AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Lifted by Invesco Ltd.

Invesco Ltd. raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,449,566 shares of the real estate investment trust's stock after buying an additional 170,952 shares during the quarter. Invesco Ltd. owned about 1.02% of AvalonBay Communities worth $318,861,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AVB. Norges Bank purchased a new position in AvalonBay Communities during the fourth quarter worth about $1,499,050,000. Wellington Management Group LLP raised its stake 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 acquiring an additional 828,009 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of AvalonBay Communities by 51.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust's stock valued at $121,927,000 after acquiring an additional 188,906 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in AvalonBay Communities during the 4th quarter worth $35,153,000. Finally, Geode Capital Management LLC raised its position in AvalonBay Communities by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock valued at $810,470,000 after purchasing an additional 107,655 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AVB shares. Truist Financial increased their target price on AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Piper Sandler decreased their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Finally, Barclays lifted their price target on shares of AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $237.47.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded down $0.21 during midday trading on Tuesday, hitting $200.71. The company's stock had a trading volume of 224,546 shares, compared to its average volume of 688,583. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The firm's fifty day moving average price is $212.55 and its 200-day moving average price is $219.64. The firm has a market cap of $28.57 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. On average, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 represents a $7.00 annualized dividend and a dividend yield of 3.49%. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio is currently 92.23%.

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.