Geode Capital Management LLC Grows Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Geode Capital Management LLC boosted its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,693,457 shares of the real estate investment trust's stock after purchasing an additional 107,655 shares during the period. Geode Capital Management LLC owned about 2.60% of AvalonBay Communities worth $810,470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. increased its position in shares of AvalonBay Communities by 29.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust's stock valued at $277,000 after buying an additional 288 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in AvalonBay Communities by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock valued at $914,627,000 after acquiring an additional 55,588 shares in the last quarter. West Oak Capital LLC raised its position in AvalonBay Communities by 875.3% during the fourth quarter. West Oak Capital LLC now owns 15,800 shares of the real estate investment trust's stock worth $356,000 after acquiring an additional 14,180 shares during the last quarter. Portfolio Design Labs LLC lifted its holdings in shares of AvalonBay Communities by 27.0% in the fourth quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust's stock valued at $4,918,000 after purchasing an additional 4,747 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of AvalonBay Communities by 14.1% in the fourth quarter. Sei Investments Co. now owns 344,139 shares of the real estate investment trust's stock valued at $75,701,000 after purchasing an additional 42,416 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. Finally, Truist Financial lifted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $237.40.

AvalonBay Communities Trading Down 1.5 %

AVB stock traded down $2.91 during midday trading on Monday, reaching $188.79. 705,258 shares of the company's stock traded hands, compared to its average volume of 679,761. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29. The business has a 50-day moving average price of $216.75 and a two-hundred day moving average price of $221.56. The company has a market capitalization of $26.86 billion, a P/E ratio of 24.76, a PEG ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted 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 net margin of 37.13% and a return on equity of 9.15%. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio is currently 92.23%.

AvalonBay Communities 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.