AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. reduced its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,078 shares of the real estate investment trust’s stock after selling 385 shares during the period. Phoenix Financial Ltd.’s holdings in AvalonBay Communities were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AVB. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities during the fourth quarter worth about $36,000. Crowley Wealth Management Inc. acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in shares of AvalonBay Communities in the 4th quarter valued at approximately $66,000. Catalyst Capital Advisors LLC raised its holdings in shares of 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 valued at $80,000 after purchasing an additional 275 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of AvalonBay Communities by 42.6% during the 4th 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. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Down 0.3 %

Shares of AVB stock opened at $192.95 on Friday. The company has a market capitalization of $27.47 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. 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 business’s 50 day moving average is $213.02 and its two-hundred day moving average is $219.85. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB) 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 analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.63%. 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 Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Piper Sandler lowered their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. 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 report on Tuesday, December 17th. Finally, Evercore ISI increased their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.47.

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.