Edgestream Partners L.P. Decreases Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Edgestream Partners L.P. lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 87.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,486 shares of the real estate investment trust's stock after selling 17,532 shares during the quarter. Edgestream Partners L.P.'s holdings in AvalonBay Communities were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVB. Assetmark Inc. boosted its holdings in AvalonBay Communities by 6.2% in the 3rd quarter. Assetmark Inc. now owns 16,308 shares of the real estate investment trust's stock worth $3,673,000 after acquiring an additional 956 shares during the period. Atria Investments Inc boosted its holdings in AvalonBay Communities by 4.0% in the 3rd quarter. Atria Investments Inc now owns 15,487 shares of the real estate investment trust's stock worth $3,488,000 after acquiring an additional 602 shares during the period. Axxcess Wealth Management LLC boosted its holdings in AvalonBay Communities by 39.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,998 shares of the real estate investment trust's stock worth $675,000 after acquiring an additional 853 shares during the period. Los Angeles Capital Management LLC purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $4,456,000. Finally, Apollon Wealth Management LLC raised its position in shares of AvalonBay Communities by 10.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,112 shares of the real estate investment trust's stock valued at $251,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $210.02 on Thursday. AvalonBay Communities, Inc. has a 1-year low of $177.40 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 business's fifty day moving average price is $218.41 and its two-hundred day moving average price is $223.57. The firm has a market capitalization of $29.88 billion, a PE ratio of 27.67, a P/E/G ratio of 3.11 and a beta of 1.00.

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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 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, research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS 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 $1.75 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.33%. AvalonBay Communities's dividend payout ratio (DPR) is currently 92.23%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVB. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Scotiabank cut their target price on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 14th. Barclays cut their target price on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Zelman & Associates raised AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Piper Sandler cut their target price 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $238.64.

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.

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