Federated Hermes Inc. Has $1.17 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Federated Hermes Inc. lessened its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 28.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,324 shares of the real estate investment trust's stock after selling 2,077 shares during the period. Federated Hermes Inc.'s holdings in AvalonBay Communities were worth $1,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVB. Whipplewood Advisors LLC acquired a new stake in AvalonBay Communities during the 4th quarter worth approximately $36,000. Crowley Wealth Management Inc. purchased a new position in shares of AvalonBay Communities in the 4th quarter valued at $44,000. Generali Asset Management SPA SGR purchased a new position in AvalonBay Communities in the fourth quarter valued at about $66,000. Catalyst Capital Advisors LLC lifted its stake in shares of AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 275 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of AvalonBay Communities by 42.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust's stock worth $97,000 after buying an additional 132 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE AVB traded up $2.87 during midday trading on Friday, reaching $202.93. The company's stock had a trading volume of 1,172,919 shares, compared to its average volume of 695,249. The company has a market cap of $28.89 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $180.17 and a one year high of $239.29. 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 company has a 50 day moving average price of $211.40 and a 200 day moving average price of $219.22.

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 (EPS) 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%. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.45%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, March 31st. AvalonBay Communities's dividend payout ratio (DPR) is presently 92.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AVB shares. Truist Financial boosted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. Barclays boosted their target price on shares of AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. 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 report on Tuesday, February 11th. Finally, Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $236.00 to $223.00 in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $237.47.

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.