Kestra Investment Management LLC Reduces Position in AvalonBay Communities, Inc. (NYSE:AVB)

Kestra Investment Management LLC lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 989 shares of the real estate investment trust's stock after selling 1,207 shares during the period. Kestra Investment Management LLC's holdings in AvalonBay Communities were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $39,000. Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $51,000. Catalyst Capital Advisors LLC boosted its holdings in AvalonBay Communities by 312.5% in 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in AvalonBay Communities by 59.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 179 shares during the last quarter. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of AVB stock traded down $0.70 on Friday, hitting $218.68. 233,697 shares of the stock traded hands, compared to its average volume of 621,042. The firm has a market cap of $31.10 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.09 and a beta of 0.99. AvalonBay Communities, Inc. has a 52 week low of $172.85 and a 52 week high of $239.29. The firm has a 50 day simple moving average of $218.91 and a two-hundred day simple moving average of $222.76. 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 (NYSE:AVB - Get Free Report) last announced 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 net margin of 37.13% and a return on equity of 9.15%. As a group, 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 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 is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Monday, March 31st. AvalonBay Communities's payout ratio is currently 92.23%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AVB. Evercore ISI raised their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Scotiabank dropped their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Mizuho upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Piper Sandler dropped their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Finally, Royal Bank of Canada raised their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.47.

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.