Legacy Capital Wealth Partners LLC Sells 70 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Legacy Capital Wealth Partners LLC trimmed its stake in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,464 shares of the real estate investment trust’s stock after selling 70 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in AvalonBay Communities were worth $322,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Segment Wealth Management LLC boosted its holdings in AvalonBay Communities by 4.6% in the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 45 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 50 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in AvalonBay Communities by 4.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 50 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in AvalonBay Communities by 4.6% in the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 55 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of AvalonBay Communities by 5.3% during the fourth quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 55 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVB. Evercore ISI upped their price target on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $236.00 to $223.00 in a report on Friday, January 24th. Scotiabank lowered their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their price target for the company from $239.00 to $242.00 in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.73.

Read Our Latest Stock Report on AVB

AvalonBay Communities Stock Performance

NYSE:AVB opened at $217.97 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12-month low of $172.85 and a 12-month high of $239.29. The stock has a 50-day moving average price of $219.58 and a 200 day moving average price of $222.60. The stock has a market capitalization of $31.00 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced 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 forecast that AvalonBay Communities, Inc. will post 11.53 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $1.75 per share. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.21%. AvalonBay Communities’s dividend payout ratio is presently 92.23%.

About AvalonBay Communities

(Free Report)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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