Payden & Rygel Decreases Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Payden & Rygel trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,900 shares of the real estate investment trust's stock after selling 4,300 shares during the period. AvalonBay Communities accounts for approximately 1.4% of Payden & Rygel's holdings, making the stock its 27th largest holding. Payden & Rygel owned approximately 0.05% of AvalonBay Communities worth $16,696,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in AvalonBay Communities in the fourth quarter worth about $36,000. Crowley Wealth Management Inc. acquired a new stake in AvalonBay Communities during the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR bought a new stake in AvalonBay Communities in the 4th quarter valued at $66,000. Catalyst Capital Advisors LLC lifted its holdings in shares of 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 purchasing an additional 275 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in AvalonBay Communities by 42.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 132 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. 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 report on Monday, February 10th. BMO Capital Markets lowered AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective on the stock. in a research note on Friday, April 4th. Mizuho raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Truist Financial raised their target price 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, Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. Eight 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, AvalonBay Communities has a consensus rating of "Moderate Buy" and an average target price of $237.40.

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AvalonBay Communities Trading Down 3.4 %

AVB stock traded down $6.89 during trading on Thursday, reaching $193.50. The company had a trading volume of 633,333 shares, compared to its average volume of 689,623. 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, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29. The business has a 50 day moving average of $214.12 and a 200 day moving average of $220.36. The company has a market cap of $27.55 billion, a P/E ratio of 25.39, a PEG ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed 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 a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities's dividend payout ratio (DPR) is currently 92.23%.

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.