AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 29.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,821 shares of the real estate investment trust’s stock after selling 97,267 shares during the period. Thrivent Financial for Lutherans owned about 0.17% of AvalonBay Communities worth $51,874,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities in the third quarter worth about $26,000. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities in the fourth quarter worth about $36,000. Brooklyn Investment Group acquired a new position in shares of AvalonBay Communities in the third quarter worth about $39,000. Prospera Private Wealth LLC acquired a new position in shares of AvalonBay Communities in the third quarter worth about $51,000. Finally, Catalyst Capital Advisors LLC raised its position in shares of AvalonBay Communities by 312.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 0.2 %

Shares of NYSE AVB opened at $210.66 on Thursday. The company has a 50 day simple moving average of $217.95 and a 200-day simple moving average of $223.12. The company has a market capitalization of $29.97 billion, a P/E ratio of 27.75, a P/E/G ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29.

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 (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%. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

Analysts Set New Price Targets

Several research firms recently weighed in on AVB. Evercore ISI upped their price target 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. Barclays reduced their price target on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Piper Sandler reduced their price target 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. Finally, Truist Financial upped their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Moderate Buy” and an average target price of $238.64.

About AvalonBay Communities

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.