Blue Trust Inc. Lowers Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Blue Trust Inc. decreased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 69.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 806 shares of the real estate investment trust's stock after selling 1,862 shares during the period. Blue Trust Inc.'s holdings in AvalonBay Communities were worth $177,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in AvalonBay Communities in the third quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in AvalonBay Communities in the third quarter worth approximately $39,000. Prospera Private Wealth LLC bought a new position in AvalonBay Communities in the third quarter worth approximately $51,000. MassMutual Private Wealth & Trust FSB raised its stake in AvalonBay Communities by 59.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust's stock worth $105,000 after buying an additional 179 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in AvalonBay Communities in the third quarter worth approximately $126,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

NYSE:AVB traded down $0.60 during mid-day trading on Friday, hitting $218.78. The company's stock had a trading volume of 587,194 shares, compared to its average volume of 631,747. AvalonBay Communities, Inc. has a 1 year low of $172.85 and a 1 year high of $239.29. 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 market cap of $31.12 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.09 and a beta of 0.99. The business's fifty day moving average is $218.91 and its two-hundred day moving average is $222.76.

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 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%. Analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared 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 represents a $7.00 annualized dividend and a yield of 3.20%. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of recent research reports. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Royal Bank of Canada upped their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Piper Sandler reduced their price target on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. 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. Finally, Barclays reduced their price target on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.47.

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.