AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 83.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,759 shares of the real estate investment trust's stock after selling 14,328 shares during the period. AGF Management Ltd.'s holdings in AvalonBay Communities were worth $607,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust's stock valued at $2,097,971,000 after buying an additional 196,938 shares during the period. Principal Financial Group Inc. increased its stake in shares of AvalonBay Communities by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust's stock valued at $1,009,781,000 after buying an additional 27,629 shares during the period. JPMorgan Chase & Co. boosted its position in AvalonBay Communities by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock valued at $914,627,000 after purchasing an additional 55,588 shares in the last quarter. Geode Capital Management LLC boosted its position in AvalonBay Communities by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust's stock valued at $805,113,000 after purchasing an additional 27,988 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AvalonBay Communities by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,701 shares of the real estate investment trust's stock valued at $498,606,000 after purchasing an additional 26,265 shares in the last quarter. 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 recently weighed in on the company. JPMorgan Chase & Co. raised AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Royal Bank of Canada raised their price objective 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. Mizuho raised AvalonBay Communities from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, Evercore ISI raised their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $238.64.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded up $0.41 during midday trading on Wednesday, reaching $210.66. 607,568 shares of the stock were exchanged, compared to its average volume of 625,363. 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 firm has a market cap of $29.97 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 3.11 and a beta of 1.00. The firm has a 50-day simple moving average of $217.98 and a two-hundred day simple moving average of $223.21. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly 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%. As a group, analysts anticipate 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. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio (DPR) 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.