Kestra Investment Management LLC Cuts Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Kestra Investment Management LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 55.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 989 shares of the real estate investment trust’s stock after selling 1,207 shares during the period. Kestra Investment Management LLC’s holdings in AvalonBay Communities were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AVB. State Street Corp boosted its position in AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock valued at $2,097,971,000 after purchasing an additional 196,938 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of AvalonBay Communities by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust’s stock valued at $1,009,781,000 after buying an additional 27,629 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after buying an additional 55,588 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AvalonBay Communities by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock worth $805,113,000 after buying an additional 27,988 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AvalonBay Communities by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after acquiring an additional 78,800 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.3 %

NYSE:AVB opened at $217.41 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The company’s fifty day moving average price is $219.08 and its 200-day moving average price is $222.78. AvalonBay Communities, Inc. has a 1-year low of $172.85 and a 1-year high of $239.29. The firm has a market capitalization of $30.92 billion, a P/E ratio of 28.64, a PEG ratio of 3.10 and a beta of 0.99.

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

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio is currently 89.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AVB shares. Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Barclays decreased their price target on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank of Canada boosted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Finally, Piper Sandler decreased their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.