Truist Financial Corp Has $1.77 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Truist Financial Corp boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,033 shares of the real estate investment trust’s stock after buying an additional 472 shares during the quarter. Truist Financial Corp’s holdings in AvalonBay Communities were worth $1,767,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of AvalonBay Communities by 3.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,776 shares of the real estate investment trust’s stock worth $1,752,000 after acquiring an additional 263 shares during the last quarter. Private Advisor Group LLC increased its position in AvalonBay Communities by 15.3% during the 3rd quarter. Private Advisor Group LLC now owns 2,449 shares of the real estate investment trust’s stock worth $552,000 after purchasing an additional 325 shares in the last quarter. PFG Investments LLC lifted its stake in AvalonBay Communities by 6.1% in the 3rd quarter. PFG Investments LLC now owns 1,097 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 63 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in AvalonBay Communities by 13.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,987 shares of the real estate investment trust’s stock valued at $1,799,000 after buying an additional 975 shares in the last quarter. Finally, Golden State Equity Partners bought a new stake in shares of AvalonBay Communities during the third quarter worth $343,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 0.6 %

AVB opened at $222.93 on Friday. AvalonBay Communities, Inc. has a twelve month low of $172.85 and a twelve month high of $239.29. The company has a fifty day moving average of $218.71 and a 200-day moving average of $223.23. The stock has a market cap of $31.71 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. On average, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s payout ratio is presently 92.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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 note on Friday, February 7th. Evercore ISI increased their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Barclays lowered their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $236.00 to $223.00 in a report on Friday, January 24th. Seven 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 presently has an average rating of “Moderate Buy” and an average target price of $238.64.

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.