New York Life Investment Management LLC Sells 16,568 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

New York Life Investment Management LLC lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 44.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,077 shares of the real estate investment trust's stock after selling 16,568 shares during the quarter. New York Life Investment Management LLC's holdings in AvalonBay Communities were worth $4,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the third quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities in the 4th quarter worth $36,000. Brooklyn Investment Group bought a new position in AvalonBay Communities during the 3rd quarter worth about $39,000. Prospera Private Wealth LLC acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $51,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 275 shares during the period. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

NYSE:AVB traded down $3.91 during mid-day trading on Tuesday, hitting $224.17. The stock had a trading volume of 347,970 shares, compared to its average volume of 618,242. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $31.89 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 3.11 and a beta of 0.99. The company's 50 day simple moving average is $218.92 and its 200 day simple moving average is $223.59.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (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, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.75 dividend. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, March 31st. AvalonBay Communities's payout ratio is currently 92.23%.

Wall Street Analyst Weigh In

AVB has been the subject of a number of research reports. Barclays decreased their price objective on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Morgan Stanley downgraded AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Scotiabank reduced their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. Finally, Royal Bank of Canada raised their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AvalonBay Communities currently has an average rating of "Moderate Buy" and an average price target of $238.64.

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.