Davis Selected Advisers Sells 390 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Davis Selected Advisers reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,220 shares of the real estate investment trust’s stock after selling 390 shares during the quarter. Davis Selected Advisers’ holdings in AvalonBay Communities were worth $12,367,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AVB. RPg Family Wealth Advisory LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in AvalonBay Communities in the 4th quarter worth about $36,000. Brooklyn Investment Group bought a new position in AvalonBay Communities in the 3rd quarter worth about $39,000. Prospera Private Wealth LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Catalyst Capital Advisors LLC increased its stake in AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 275 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Trading Down 0.0 %

Shares of AVB stock opened at $218.45 on Friday. The stock has a market capitalization of $31.08 billion, a PE ratio of 28.78, a P/E/G ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The business has a 50-day moving average of $218.81 and a 200 day moving average of $223.64. 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) last released 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%. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current 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 issued a $1.75 dividend. The ex-dividend date is Monday, March 31st. This represents a $7.00 annualized dividend and a yield of 3.20%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Wall Street Analysts Forecast Growth

AVB has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Scotiabank reduced their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, Evercore ISI increased their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, AvalonBay Communities presently has an average rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Company 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.