Vestcor Inc Has $9.47 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Vestcor Inc increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,062 shares of the real estate investment trust's stock after buying an additional 1,348 shares during the quarter. Vestcor Inc's holdings in AvalonBay Communities were worth $9,472,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AvalonBay Communities by 678.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust's stock worth $386,315,000 after buying an additional 1,494,872 shares in the last quarter. State Street Corp boosted its holdings in AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust's stock valued at $2,097,971,000 after purchasing an additional 196,938 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in AvalonBay Communities by 51.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust's stock valued at $121,927,000 after purchasing an additional 188,906 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in AvalonBay Communities during the fourth quarter valued at approximately $35,153,000. Finally, KBC Group NV boosted its holdings in AvalonBay Communities by 284.8% during the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust's stock valued at $32,983,000 after purchasing an additional 108,371 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised AvalonBay Communities from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Piper Sandler decreased their price objective on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Scotiabank decreased their price objective on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Morgan Stanley cut shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $238.64.

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AvalonBay Communities Stock Performance

AVB stock opened at $210.02 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The company has a 50 day moving average price of $218.41 and a 200 day moving average price of $223.57. AvalonBay Communities, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29. The stock has a market capitalization of $29.88 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. Analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's payout ratio is 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.

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