Tredje AP fonden Cuts Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Tredje AP fonden reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,021 shares of the real estate investment trust's stock after selling 11,020 shares during the period. Tredje AP fonden's holdings in AvalonBay Communities were worth $2,424,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vestcor Inc grew its position in shares of AvalonBay Communities by 3.2% during the 4th quarter. Vestcor Inc now owns 43,062 shares of the real estate investment trust's stock valued at $9,472,000 after purchasing an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of AvalonBay Communities by 132.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,756 shares of the real estate investment trust's stock valued at $386,000 after purchasing an additional 1,001 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of AvalonBay Communities by 19.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,778 shares of the real estate investment trust's stock valued at $611,000 after purchasing an additional 457 shares in the last quarter. GC Wealth Management RIA LLC purchased a new position in AvalonBay Communities in the fourth quarter worth $222,000. Finally, Daiwa Securities Group Inc. grew its position 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 worth $121,927,000 after acquiring an additional 188,906 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

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AvalonBay Communities Stock Down 0.8 %

Shares of NYSE AVB traded down $1.77 on Tuesday, reaching $209.98. 856,746 shares of the company's stock traded hands, compared to its average volume of 626,397. AvalonBay Communities, Inc. has a 12 month low of $177.40 and a 12 month high of $239.29. The business's 50 day simple moving average is $218.01 and its two-hundred day simple moving average is $223.32. The company has a market cap of $29.87 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced 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 net margin of 37.13% and a return on equity of 9.15%. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.75 per share. This is a boost 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 3.33%. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AVB shares. Barclays cut their target price on shares of AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Morgan Stanley lowered shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Truist Financial upped their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada upped their price target 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.64.

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.