AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 75,517 shares of the real estate investment trust's stock after selling 1,607 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of AvalonBay Communities worth $16,611,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AvalonBay Communities by 678.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust's stock valued at $386,315,000 after buying an additional 1,494,872 shares during the period. International Assets Investment Management LLC acquired a new position in AvalonBay Communities in the 3rd quarter valued at about $581,960,000. State Street Corp increased its stake in AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust's stock worth $2,097,971,000 after purchasing an additional 196,938 shares during the period. KBC Group NV lifted its position in shares of AvalonBay Communities by 284.8% during the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust's stock worth $32,983,000 after purchasing an additional 108,371 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of AvalonBay Communities by 54.8% in the third quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust's stock valued at $58,459,000 after purchasing an additional 91,861 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB traded down $0.61 on Wednesday, reaching $217.41. The company's stock had a trading volume of 330,834 shares, compared to its average volume of 634,655. AvalonBay Communities, Inc. has a 52-week low of $172.85 and a 52-week high of $239.29. The stock's 50-day moving average is $219.26 and its two-hundred day moving average is $222.82. 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 capitalization of $30.92 billion, a P/E ratio of 28.64, a PEG ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data 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 net margin of 37.13% and a return on equity of 9.15%. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.75 per share. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 89.59%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Evercore ISI lifted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. Barclays lowered their price objective on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Morgan Stanley cut shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $236.00 to $223.00 in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $235.47.

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.