AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 827,751 shares of the real estate investment trust's stock after selling 29,490 shares during the period. AvalonBay Communities makes up about 2.2% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 5th largest position. Duff & Phelps Investment Management Co. owned 0.58% of AvalonBay Communities worth $182,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in AvalonBay Communities in the 3rd quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth about $36,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities in the 3rd quarter worth about $39,000. Crowley Wealth Management Inc. bought a new stake in AvalonBay Communities during the 4th quarter valued at about $44,000. Finally, Generali Asset Management SPA SGR bought a new stake in AvalonBay Communities during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Barclays reduced their price objective on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Piper Sandler lowered their target price on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Truist Financial raised their price target on AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Finally, Morgan Stanley downgraded AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $236.00 to $223.00 in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $238.64.

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AvalonBay Communities Stock Up 1.3 %

Shares of AVB traded up $2.81 during midday trading on Monday, hitting $214.64. 358,181 shares of the company's stock traded hands, compared to its average volume of 668,415. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The firm's fifty day moving average is $217.50 and its 200-day moving average is $222.39.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released 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 net margin of 37.13% and a return on equity of 9.15%. As a group, sell-side 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. Shareholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, March 31st. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's payout ratio is currently 92.23%.

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.