Aviva PLC Has $18.84 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Aviva PLC lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 57.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,646 shares of the real estate investment trust's stock after selling 116,995 shares during the period. Aviva PLC owned about 0.06% of AvalonBay Communities worth $18,840,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in shares of AvalonBay Communities by 121.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,125 shares of the real estate investment trust's stock valued at $467,000 after acquiring an additional 1,167 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in AvalonBay Communities during the 4th quarter valued at $17,352,000. Landscape Capital Management L.L.C. purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at $441,000. Atlas Capital Advisors Inc. acquired a new stake in shares of AvalonBay Communities in the fourth quarter worth $325,000. Finally, ExodusPoint Capital Management LP grew its holdings in shares of AvalonBay Communities by 7.7% during the fourth quarter. ExodusPoint Capital Management LP now owns 199,729 shares of the real estate investment trust's stock valued at $43,934,000 after buying an additional 14,228 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded down $0.64 on Friday, hitting $192.95. The company's stock had a trading volume of 1,234,629 shares, compared to its average volume of 691,755. The company has a fifty day moving average price of $213.02 and a 200-day moving average price of $219.85. The firm has a market cap of $27.47 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $177.40 and a one year high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

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AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results 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 return on equity of 9.15% and a net margin of 37.13%. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change 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%.

Wall Street Analyst Weigh In

AVB has been the subject of several research analyst reports. Piper Sandler reduced their price objective on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Truist Financial increased their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Barclays boosted their price objective on shares of AvalonBay Communities from $226.00 to $227.00 and gave the company an "equal weight" rating in a research report on Friday. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada boosted their price objective 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. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.

About AvalonBay Communities

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.