AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 9.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,670,784 shares of the real estate investment trust’s stock after selling 389,713 shares during the period. JPMorgan Chase & Co.’s holdings in AvalonBay Communities were worth $807,463,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities in the fourth quarter valued at $36,000. Brooklyn Investment Group purchased a new stake in AvalonBay Communities in the 3rd quarter valued at about $39,000. Crowley Wealth Management Inc. acquired a new position in shares of AvalonBay Communities during the 4th quarter valued at about $44,000. Generali Asset Management SPA SGR purchased a new position in shares of AvalonBay Communities during the 4th quarter worth about $66,000. Finally, Catalyst Capital Advisors LLC boosted its position in shares of AvalonBay Communities by 312.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $213.50 on Friday. 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, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The company has a 50-day moving average of $217.50 and a 200-day moving average of $222.49. The company has a market capitalization of $30.37 billion, a P/E ratio of 28.13, a PEG ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share 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%. Equities analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS 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. Shareholders of record on Monday, March 31st will be issued 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 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 dividend payout ratio is 92.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AVB shares. Barclays cut their price target on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Piper Sandler dropped their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Evercore ISI lifted their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Finally, Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AvalonBay Communities currently has a consensus 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.