Van ECK Associates Corp Sells 450 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Van ECK Associates Corp lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,376 shares of the real estate investment trust’s stock after selling 450 shares during the period. Van ECK Associates Corp’s holdings in AvalonBay Communities were worth $14,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Portfolio Design Labs LLC lifted its stake in shares of AvalonBay Communities by 27.0% during the 4th quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust’s stock worth $4,918,000 after acquiring an additional 4,747 shares during the last quarter. Savant Capital LLC lifted its position in shares of AvalonBay Communities by 8.7% during the fourth quarter. Savant Capital LLC now owns 1,264 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 101 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of AvalonBay Communities during the fourth quarter valued at $309,000. Empowered Funds LLC grew its holdings in shares of AvalonBay Communities by 10.2% in the fourth quarter. Empowered Funds LLC now owns 2,575 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 238 shares during the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in AvalonBay Communities in the 4th quarter worth about $3,673,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the subject of several research reports. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Evercore ISI raised their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Barclays lowered their target price on AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Piper Sandler dropped their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.73.

AvalonBay Communities Stock Performance

Shares of AVB opened at $217.97 on Friday. 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 firm has a market cap of $31.00 billion, a PE ratio of 28.72, a P/E/G ratio of 3.10 and a beta of 0.99. AvalonBay Communities, Inc. has a 12 month low of $172.85 and a 12 month high of $239.29. The stock has a fifty day moving average price of $219.58 and a 200-day moving average price of $222.49.

AvalonBay Communities (NYSE:AVB) last released its quarterly 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 net margin of 37.13% and a return on equity of 9.15%. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.53 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. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. 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 3.21%. AvalonBay Communities’s dividend payout ratio is presently 89.59%.

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.