AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,453 shares of the real estate investment trust's stock after buying an additional 3,044 shares during the period. Sterling Capital Management LLC's holdings in AvalonBay Communities were worth $1,859,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MML Investors Services LLC grew its holdings in shares of AvalonBay Communities by 19.4% in the third quarter. MML Investors Services LLC now owns 3,005 shares of the real estate investment trust's stock worth $677,000 after purchasing an additional 489 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in AvalonBay Communities in the third quarter worth $126,000. Tidal Investments LLC lifted its position in AvalonBay Communities by 18.9% during the 3rd quarter. Tidal Investments LLC now owns 76,652 shares of the real estate investment trust's stock valued at $17,266,000 after acquiring an additional 12,165 shares during the period. Franklin Resources Inc. lifted its holdings in shares of AvalonBay Communities by 11.6% during the third quarter. Franklin Resources Inc. now owns 212,338 shares of the real estate investment trust's stock valued at $47,056,000 after purchasing an additional 22,076 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock worth $914,627,000 after acquiring an additional 55,588 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVB shares. Piper Sandler decreased their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Barclays upped their target price on shares of AvalonBay Communities from $226.00 to $227.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Royal Bank of Canada boosted their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Finally, 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 research note on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $237.47.

AvalonBay Communities Trading Up 1.4 %

AVB stock traded up $2.87 during mid-day trading on Friday, reaching $202.93. The company had a trading volume of 1,172,919 shares, compared to its average volume of 695,344. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a market capitalization of $28.89 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The firm has a 50 day moving average of $211.08 and a 200 day moving average of $219.08. 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 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%. On average, equities analysts predict 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 was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.45%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, March 31st. 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.