Lasalle Investment Management Securities LLC Has $69.53 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Lasalle Investment Management Securities LLC trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 316,082 shares of the real estate investment trust's stock after selling 197,881 shares during the quarter. AvalonBay Communities comprises approximately 2.9% of Lasalle Investment Management Securities LLC's holdings, making the stock its 14th largest position. Lasalle Investment Management Securities LLC owned 0.22% of AvalonBay Communities worth $69,529,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Wedmont Private Capital lifted its position in AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 55 shares during the last quarter. Signaturefd LLC lifted its position in shares of AvalonBay Communities by 4.0% during the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock worth $356,000 after purchasing an additional 62 shares during the last quarter. Private Advisor Group LLC boosted its stake in AvalonBay Communities by 2.6% during the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock valued at $553,000 after purchasing an additional 63 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in AvalonBay Communities by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock valued at $2,679,000 after buying an additional 69 shares during the last quarter. Finally, Greenleaf Trust increased its position in AvalonBay Communities by 2.4% in the 4th quarter. Greenleaf Trust now owns 3,028 shares of the real estate investment trust's stock worth $666,000 after buying an additional 70 shares during the period. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVB. Piper Sandler lowered their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 11th. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective on the stock. in a report on Friday, April 4th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of "Moderate Buy" and a consensus price target of $237.47.

AvalonBay Communities Price Performance

NYSE:AVB traded down $0.41 on Friday, reaching $206.32. The stock had a trading volume of 272,506 shares, compared to its average volume of 692,082. 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 company has a market capitalization of $29.37 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The stock has a fifty day moving average price of $210.04 and a 200-day moving average price of $218.66.

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 earnings per share 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%. Research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.39%. 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.