Blue Trust Inc. Sells 1,862 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Blue Trust Inc. trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 69.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 806 shares of the real estate investment trust’s stock after selling 1,862 shares during the period. Blue Trust Inc.’s holdings in AvalonBay Communities were worth $177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Planning lifted its stake in shares of AvalonBay Communities by 4.7% during the 3rd quarter. Creative Planning now owns 9,004 shares of the real estate investment trust’s stock valued at $2,028,000 after buying an additional 408 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of AvalonBay Communities by 3.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,776 shares of the real estate investment trust’s stock worth $1,752,000 after buying an additional 263 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of AvalonBay Communities by 147.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 721 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 430 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of AvalonBay Communities during the 3rd quarter valued at $210,000. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of AvalonBay Communities by 6.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,321 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 138 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $219.26 on Friday. AvalonBay Communities, Inc. has a one year low of $172.85 and a one year high of $239.29. The stock’s fifty day moving average is $218.91 and its 200 day moving average is $222.76. The stock has a market cap of $31.19 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.10 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last posted 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%. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced 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 represents a $7.00 annualized dividend and a dividend yield of 3.19%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s payout ratio is 89.59%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVB shares. Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Evercore ISI raised their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. 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. Piper Sandler reduced their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Barclays cut their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.47.

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.