Martingale Asset Management L P Has $2.35 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Martingale Asset Management L P cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 68.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,659 shares of the real estate investment trust's stock after selling 22,891 shares during the quarter. Martingale Asset Management L P's holdings in AvalonBay Communities were worth $2,345,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVB. Norges Bank bought a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $1,499,050,000. Wellington Management Group LLP raised its position in AvalonBay Communities by 49.9% during the fourth quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after acquiring an additional 828,009 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in AvalonBay Communities by 51.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust's stock valued at $121,927,000 after acquiring an additional 188,906 shares during the last quarter. Invesco Ltd. increased its stake in shares of AvalonBay Communities by 13.4% during the 4th quarter. Invesco Ltd. now owns 1,449,566 shares of the real estate investment trust's stock worth $318,861,000 after purchasing an additional 170,952 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $35,153,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVB shares. Evercore ISI raised their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their price target for the company from $247.00 to $262.00 in a report 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 objective on the stock. in a report on Friday, April 4th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley lowered shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of "Moderate Buy" and a consensus target price of $237.47.

AvalonBay Communities Price Performance

AVB traded down $0.54 during trading on Tuesday, hitting $200.38. 730,777 shares of the stock traded hands, compared to its average volume of 693,041. The business has a 50 day moving average price of $212.55 and a 200 day moving average price of $219.64. The company has a market cap of $28.53 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. 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 posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.49%. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 92.23%.

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.