Kensington Investment Counsel LLC Has $3.44 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Kensington Investment Counsel LLC boosted its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 40.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,646 shares of the real estate investment trust's stock after buying an additional 4,491 shares during the quarter. AvalonBay Communities makes up about 1.4% of Kensington Investment Counsel LLC's investment portfolio, making the stock its 26th biggest holding. Kensington Investment Counsel LLC's holdings in AvalonBay Communities were worth $3,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVB. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities in the third quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities in the fourth quarter valued at approximately $36,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities in the third quarter valued at approximately $39,000. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the third quarter valued at approximately $51,000. Finally, Catalyst Capital Advisors LLC boosted its position 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 buying an additional 275 shares during the period. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

Shares of NYSE AVB traded down $2.01 during trading on Friday, hitting $209.49. The company had a trading volume of 1,486,933 shares, compared to its average volume of 628,951. The company has a market cap of $29.80 billion, a P/E ratio of 27.60, a PEG ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The business's 50-day moving average is $217.90 and its 200 day moving average is $222.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

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AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) 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 predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, March 31st. AvalonBay Communities's payout ratio is 92.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVB shares. JPMorgan Chase & Co. upgraded AvalonBay Communities from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Barclays reduced their price objective on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Truist Financial boosted their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Finally, Evercore ISI boosted their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.