BI Asset Management Fondsmaeglerselskab A S Invests $1.15 Million in AvalonBay Communities, Inc. (NYSE:AVB)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,242 shares of the real estate investment trust's stock, valued at approximately $1,153,000.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in AvalonBay Communities during the fourth quarter valued at about $1,499,050,000. Wellington Management Group LLP raised its stake in shares of AvalonBay Communities by 49.9% during the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after purchasing an additional 828,009 shares in the last quarter. Cohen & Steers Inc. lifted its stake in AvalonBay Communities by 25.7% in the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock valued at $688,527,000 after acquiring an additional 639,402 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of AvalonBay Communities by 51.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust's stock valued at $121,927,000 after purchasing an additional 188,906 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of AvalonBay Communities by 13.4% during the 4th quarter. Invesco Ltd. now owns 1,449,566 shares of the real estate investment trust's stock worth $318,861,000 after acquiring an additional 170,952 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVB has been the topic of several research reports. 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 report on Friday, February 7th. Evercore ISI increased 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. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Piper Sandler decreased their target price 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. Finally, Morgan Stanley cut AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $206.46 on Wednesday. The stock has a market capitalization of $29.39 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The stock has a 50 day moving average price of $210.49 and a 200 day moving average price of $218.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its 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 return on equity of 9.15% and a net margin of 37.13%. Analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.39%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio (DPR) is presently 92.23%.

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.

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