Alliancebernstein L.P. Lowers Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Alliancebernstein L.P. trimmed its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 185,160 shares of the real estate investment trust’s stock after selling 5,207 shares during the period. Alliancebernstein L.P. owned about 0.13% of AvalonBay Communities worth $40,730,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. boosted its position in shares of AvalonBay Communities by 6.1% during the third quarter. Royal London Asset Management Ltd. now owns 71,516 shares of the real estate investment trust’s stock worth $16,109,000 after buying an additional 4,080 shares during the period. Quantinno Capital Management LP lifted its stake in AvalonBay Communities by 12.1% during the 3rd quarter. Quantinno Capital Management LP now owns 18,807 shares of the real estate investment trust’s stock worth $4,236,000 after acquiring an additional 2,035 shares in the last quarter. Stifel Financial Corp boosted its holdings in AvalonBay Communities by 10.4% during the 3rd quarter. Stifel Financial Corp now owns 76,531 shares of the real estate investment trust’s stock valued at $17,239,000 after acquiring an additional 7,195 shares during the period. iA Global Asset Management Inc. acquired a new position in AvalonBay Communities in the 3rd quarter valued at about $922,000. Finally, Zimmer Partners LP purchased a new stake in AvalonBay Communities during the third quarter worth about $2,162,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $191.69 on Friday. AvalonBay Communities, Inc. has a 12 month low of $177.40 and a 12 month high of $239.29. The firm has a market capitalization of $27.27 billion, a P/E ratio of 25.26, a P/E/G ratio of 3.11 and a beta of 0.86. 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’s fifty day moving average price is $216.75 and its 200 day moving average price is $221.63.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS 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%. As a group, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.75 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is presently 92.23%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $239.00 to $242.00 in a report on Monday, January 6th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $236.00 to $223.00 in a report on Friday, January 24th. Royal Bank of Canada increased their price target on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Finally, Evercore ISI boosted their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Eight 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.40.

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.