Pictet Asset Management Holding SA Sells 2,160 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Pictet Asset Management Holding SA cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,894 shares of the real estate investment trust's stock after selling 2,160 shares during the period. Pictet Asset Management Holding SA owned approximately 0.08% of AvalonBay Communities worth $26,373,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVB. Whipplewood Advisors LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $36,000. Crowley Wealth Management Inc. bought a new stake in AvalonBay Communities in the 4th quarter worth $44,000. Generali Asset Management SPA SGR purchased a new position in shares of AvalonBay Communities in the fourth quarter valued at about $66,000. Catalyst Capital Advisors LLC increased its position 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 acquiring an additional 275 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in shares of AvalonBay Communities by 42.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust's stock valued at $97,000 after acquiring an additional 132 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVB. Truist Financial boosted their price target on AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a report on Monday, March 10th. Barclays reduced their target price on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Piper Sandler reduced their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Finally, Evercore ISI upped their price objective 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. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of "Moderate Buy" and an average target price of $237.40.

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AvalonBay Communities Stock Down 6.9 %

AVB stock traded down $14.17 on Friday, reaching $191.69. 1,707,872 shares of the company traded hands, compared to its average volume of 679,511. The firm has a fifty day simple moving average of $216.75 and a 200-day simple moving average of $221.63. The company has a market cap of $27.27 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $177.40 and a one year 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 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 return on equity of 9.15% and a net margin of 37.13%. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced 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 a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.65%. AvalonBay Communities's dividend payout ratio (DPR) is presently 92.23%.

AvalonBay Communities 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.