Chevy Chase Trust Holdings LLC Sells 1,607 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Chevy Chase Trust Holdings LLC lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,517 shares of the real estate investment trust’s stock after selling 1,607 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of AvalonBay Communities worth $16,611,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AVB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AvalonBay Communities by 678.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after acquiring an additional 1,494,872 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth about $581,960,000. State Street Corp boosted its stake in AvalonBay Communities by 2.2% during the 3rd 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 during the period. KBC Group NV boosted its stake in AvalonBay Communities by 284.8% during the 3rd quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust’s stock valued at $32,983,000 after purchasing an additional 108,371 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in AvalonBay Communities by 54.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust’s stock valued at $58,459,000 after purchasing an additional 91,861 shares during the period. Institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVB. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their target price for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday. Piper Sandler decreased their target price 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. Finally, 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 note on Monday, February 10th. Eight 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.73.

AvalonBay Communities Trading Down 1.0 %

Shares of AVB opened at $217.97 on Friday. AvalonBay Communities, Inc. has a 1 year low of $172.85 and a 1 year high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $219.58 and a 200-day simple moving average of $222.49. The stock has a market cap of $31.00 billion, a PE ratio of 28.72, a PEG ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last issued its 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, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.53 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.75 dividend. The ex-dividend date is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.21%. AvalonBay Communities’s dividend payout ratio is presently 89.59%.

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.