Russell Investments Group Ltd. Sells 19,500 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Russell Investments Group Ltd. lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 690,922 shares of the real estate investment trust’s stock after selling 19,500 shares during the period. Russell Investments Group Ltd. owned 0.49% of AvalonBay Communities worth $151,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new position in shares of AvalonBay Communities in the fourth quarter worth $36,000. Crowley Wealth Management Inc. bought a new position in shares of AvalonBay Communities during the 4th quarter valued at about $44,000. Generali Asset Management SPA SGR purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at about $66,000. Catalyst Capital Advisors LLC increased its holdings 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 worth $80,000 after purchasing an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of AvalonBay Communities by 42.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. 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 report on Wednesday, February 19th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $239.00 to $242.00 in a research note on Monday, January 6th. BMO Capital Markets lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a research note on Friday. Piper Sandler reduced their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.40.

AvalonBay Communities Stock Performance

AVB opened at $191.69 on Friday. The firm’s 50-day moving average price is $216.75 and its 200-day moving average price is $221.69. 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. 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, Inc. has a 52-week low of $177.40 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its 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 net margin of 37.13% and a return on equity of 9.15%. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.65%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s payout ratio 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.