Metis Global Partners LLC Has $6.37 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Metis Global Partners LLC grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,975 shares of the real estate investment trust's stock after acquiring an additional 2,115 shares during the period. Metis Global Partners LLC's holdings in AvalonBay Communities were worth $6,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVB. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities in the third quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at approximately $36,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities in the third quarter worth approximately $39,000. Prospera Private Wealth LLC bought a new position in AvalonBay Communities during the third quarter valued at approximately $51,000. Finally, Catalyst Capital Advisors LLC lifted its stake 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 valued at $80,000 after acquiring an additional 275 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB traded up $1.63 during trading hours on Wednesday, reaching $224.62. 807,781 shares of the company traded hands, compared to its average volume of 635,785. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The stock's fifty day moving average is $218.92 and its 200 day moving average is $223.65. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The stock has a market cap of $31.95 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99.

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 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 anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm 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 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's payout ratio is 92.23%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Evercore ISI increased their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Royal Bank of Canada boosted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised AvalonBay Communities from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $238.64.

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.