Pictet Asset Management Holding SA Cuts Position in AvalonBay Communities, Inc. (NYSE:AVB)

Pictet Asset Management Holding SA trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,894 shares of the real estate investment trust’s stock after selling 2,160 shares during the period. Pictet Asset Management Holding SA’s holdings in AvalonBay Communities were worth $26,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the fourth quarter worth about $36,000. Crowley Wealth Management Inc. purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR bought a new position in shares of AvalonBay Communities during the 4th quarter valued at approximately $66,000. Catalyst Capital Advisors LLC raised its holdings in 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 valued at $80,000 after buying an additional 275 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in AvalonBay Communities by 42.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 132 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVB has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Truist Financial raised their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Royal Bank of Canada upped their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Moderate Buy” and an average price target of $238.64.

AvalonBay Communities Price Performance

Shares of AVB opened at $214.73 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The company has a 50 day moving average price of $217.43 and a 200-day moving average price of $222.27. AvalonBay Communities, Inc. has a fifty-two week low of $177.40 and a fifty-two week high of $239.29. The stock has a market capitalization of $30.55 billion, a PE ratio of 28.29, a PEG ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last posted its 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 return on equity of 9.15% and a net margin of 37.13%. Equities analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share 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. Shareholders of record on Monday, March 31st will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.26%. 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 payout ratio is 92.23%.

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.