Duff & Phelps Investment Management Co. Sells 29,490 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Duff & Phelps Investment Management Co. decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 827,751 shares of the real estate investment trust’s stock after selling 29,490 shares during the period. AvalonBay Communities comprises about 2.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 5th biggest holding. Duff & Phelps Investment Management Co. owned 0.58% of AvalonBay Communities worth $182,080,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities during the third quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth about $36,000. Brooklyn Investment Group acquired a new stake in AvalonBay Communities in the third quarter worth about $39,000. Crowley Wealth Management Inc. acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $44,000. Finally, Generali Asset Management SPA SGR bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $66,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Down 0.4 %

Shares of NYSE AVB opened at $213.18 on Friday. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $30.33 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The business has a fifty day simple moving average of $217.60 and a two-hundred day simple moving average of $222.58.

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

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is 92.23%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVB. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $236.00 to $223.00 in a report on Friday, January 24th. Evercore ISI increased 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. Royal Bank of Canada boosted their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Piper Sandler reduced their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $238.64.

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.