Thrivent Financial for Lutherans Sells 97,267 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Thrivent Financial for Lutherans reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 29.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,821 shares of the real estate investment trust's stock after selling 97,267 shares during the quarter. Thrivent Financial for Lutherans owned about 0.17% of AvalonBay Communities worth $51,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in AvalonBay Communities during the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $36,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at $39,000. Prospera Private Wealth LLC acquired a new stake in AvalonBay Communities during the 3rd quarter worth $51,000. Finally, Catalyst Capital Advisors LLC lifted its holdings in AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 275 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial raised their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Mizuho upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Morgan Stanley cut shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $236.00 to $223.00 in a report on Friday, January 24th. Evercore ISI raised their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, AvalonBay Communities has a consensus rating of "Moderate Buy" and a consensus price target of $238.64.

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AvalonBay Communities Stock Up 2.3 %

AVB stock traded up $4.84 during mid-day trading on Monday, reaching $214.40. The company had a trading volume of 512,708 shares, compared to its average volume of 628,823. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The company has a market capitalization of $30.50 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a 50 day simple moving average of $217.90 and a two-hundred day simple moving average of $222.87.

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

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 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.