AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,804 shares of the real estate investment trust's stock after selling 1,901 shares during the period. Victory Capital Management Inc. owned 0.11% of AvalonBay Communities worth $33,172,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its stake in shares of AvalonBay Communities by 4.6% during the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust's stock valued at $280,000 after buying an additional 55 shares during the period. Wedmont Private Capital grew its holdings 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 in the last quarter. MAI Capital Management increased its position in AvalonBay Communities by 1.7% during the 3rd quarter. MAI Capital Management now owns 3,633 shares of the real estate investment trust's stock valued at $818,000 after purchasing an additional 60 shares during the period. Raymond James Trust N.A. raised its holdings in shares of AvalonBay Communities by 3.1% in the 3rd quarter. Raymond James Trust N.A. now owns 2,015 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 60 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of AvalonBay Communities by 2.6% in the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 63 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

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AvalonBay Communities Stock Performance

Shares of NYSE:AVB traded down $0.14 on Wednesday, hitting $212.80. 46,104 shares of the company were exchanged, compared to its average volume of 622,767. The firm has a market capitalization of $30.27 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The stock's 50 day moving average price is $218.61 and its 200 day moving average price is $223.66.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio is 92.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVB shares. Truist Financial boosted their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research note on Monday. Evercore ISI boosted their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. 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. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Finally, Barclays lowered their price target on shares of AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $238.64.

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.