Franklin Resources Inc. Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Franklin Resources Inc. increased its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 223,353 shares of the real estate investment trust's stock after purchasing an additional 11,015 shares during the quarter. Franklin Resources Inc. owned approximately 0.16% of AvalonBay Communities worth $49,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVB. Wedmont Private Capital grew its stake in shares of AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 55 shares during the period. Signaturefd LLC lifted its holdings in AvalonBay Communities by 4.0% during the fourth quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 62 shares during the last quarter. Private Advisor Group LLC boosted its position in AvalonBay Communities by 2.6% during the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 63 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of AvalonBay Communities by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock valued at $2,679,000 after purchasing an additional 69 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of AvalonBay Communities by 2.4% during the 4th quarter. Greenleaf Trust now owns 3,028 shares of the real estate investment trust's stock valued at $666,000 after buying an additional 70 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

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AvalonBay Communities Trading Down 4.5 %

Shares of AvalonBay Communities stock traded down $9.08 during trading on Thursday, reaching $191.31. The company's stock had a trading volume of 250,062 shares, compared to its average volume of 688,253. The company has a market cap of $27.24 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.11 and a beta of 0.86. The firm's 50-day moving average is $214.12 and its two-hundred day moving average is $220.36. AvalonBay Communities, Inc. has a 52-week low of $177.40 and a 52-week high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.15% and a net margin of 37.13%. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.66%. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities's payout ratio is presently 92.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVB shares. Piper Sandler dropped 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. JPMorgan Chase & Co. upgraded 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 note on Tuesday, December 17th. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target on the stock. in a report on Friday, April 4th. Mizuho raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $239.00 to $242.00 in a research note on Monday, January 6th. Finally, Morgan Stanley lowered shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock 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 assigned a buy rating to the company. According to data from MarketBeat, AvalonBay Communities presently has an average rating of "Moderate Buy" and an average price target of $237.40.

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.