State of Tennessee Department of Treasury Reduces Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

State of Tennessee Department of Treasury trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,113 shares of the real estate investment trust's stock after selling 1,908 shares during the period. State of Tennessee Department of Treasury owned about 0.17% of AvalonBay Communities worth $52,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its holdings in shares of AvalonBay Communities by 6.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,809 shares of the real estate investment trust's stock valued at $1,058,000 after purchasing an additional 300 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of AvalonBay Communities by 21.6% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,438 shares of the real estate investment trust's stock worth $2,736,000 after purchasing an additional 2,213 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of AvalonBay Communities by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 41,765 shares of the real estate investment trust's stock worth $9,187,000 after acquiring an additional 526 shares during the last quarter. Norinchukin Bank The increased its stake in AvalonBay Communities by 4.0% during the 4th quarter. Norinchukin Bank The now owns 12,872 shares of the real estate investment trust's stock valued at $2,831,000 after purchasing an additional 501 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $1,153,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 0.0 %

NYSE AVB traded up $0.10 on Wednesday, hitting $206.54. 613,439 shares of the stock were exchanged, compared to its average volume of 695,175. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The company has a 50-day moving average price of $210.26 and a 200-day moving average price of $218.74. The company has a market cap of $29.41 billion, a PE ratio of 27.21, a PEG ratio of 3.11 and a beta of 0.86. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

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%. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $1.75 dividend. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, March 31st. AvalonBay Communities's dividend payout ratio is currently 92.23%.

Analyst Ratings Changes

A number of research firms recently issued reports on AVB. Evercore ISI boosted their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Piper Sandler reduced their price objective on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. BMO Capital Markets lowered 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 report on Friday, April 4th. Finally, Royal Bank of Canada lifted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $237.47.

AvalonBay Communities Company 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.