Intact Investment Management Inc. Has $6.27 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Intact Investment Management Inc. lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 8.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,500 shares of the real estate investment trust's stock after selling 2,600 shares during the period. Intact Investment Management Inc.'s holdings in AvalonBay Communities were worth $6,269,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new position in shares of AvalonBay Communities in the third quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in AvalonBay Communities in the fourth quarter valued at $36,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities in the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth about $51,000. Finally, Catalyst Capital Advisors LLC increased its stake in shares of AvalonBay Communities by 312.5% during the 4th 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 during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB traded down $1.77 during mid-day trading on Tuesday, hitting $209.98. 856,746 shares of the company's stock were exchanged, compared to its average volume of 626,397. 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, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The stock's 50-day simple moving average is $218.01 and its 200-day simple moving average is $223.32. The firm has a market cap of $29.87 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00.

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AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data 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 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a yield of 3.33%. AvalonBay Communities's dividend payout ratio is currently 92.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVB shares. Piper Sandler reduced their price target on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Zelman & Associates raised AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. Morgan Stanley downgraded AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $236.00 to $223.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities presently has a consensus 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.