AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 44.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,077 shares of the real estate investment trust’s stock after selling 16,568 shares during the quarter. New York Life Investment Management LLC’s holdings in AvalonBay Communities were worth $4,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities during the 4th quarter valued at about $36,000. Brooklyn Investment Group acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC acquired a new stake in AvalonBay Communities during the 3rd quarter worth approximately $51,000. Finally, Catalyst Capital Advisors LLC increased its position in AvalonBay Communities by 312.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 1.4 %

AVB stock opened at $226.17 on Friday. AvalonBay Communities, Inc. has a twelve month low of $174.46 and a twelve month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $32.17 billion, a P/E ratio of 29.80, a PEG ratio of 3.11 and a beta of 1.00. The firm has a 50 day simple moving average of $218.79 and a 200-day simple moving average of $223.35.

AvalonBay Communities (NYSE:AVB) last released its quarterly 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 return on equity of 9.15% and a net margin of 37.13%. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.75 per share. 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 3.10%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVB. Piper Sandler dropped their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Barclays dropped 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 downgraded shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, Scotiabank dropped their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities has a consensus rating of “Moderate Buy” and an average price target of $238.64.

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.