First Hawaiian Bank Decreases Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

First Hawaiian Bank trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVBGet Rating) by 18.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,371 shares of the real estate investment trust’s stock after selling 301 shares during the period. First Hawaiian Bank’s holdings in AvalonBay Communities were worth $341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVB. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities during the 4th quarter valued at about $25,000. Rise Advisors LLC purchased a new position in AvalonBay Communities in the 4th quarter worth approximately $30,000. Dark Forest Capital Management LP purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $38,000. Total Clarity Wealth Management Inc. purchased a new position in AvalonBay Communities in the 4th quarter worth approximately $44,000. Finally, Danda Trouve Investment Management Inc. increased its stake in AvalonBay Communities by 105.6% in the 4th quarter. Danda Trouve Investment Management Inc. now owns 259 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 133 shares during the period. 90.98% of the stock is currently owned by institutional investors.

AvalonBay Communities stock opened at $196.49 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $212.02 and its two-hundred day simple moving average is $233.74. AvalonBay Communities, Inc. has a 12 month low of $183.35 and a 12 month high of $259.05. The company has a market capitalization of $27.47 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 3.23 and a beta of 0.94.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, June 29th. AvalonBay Communities’s dividend payout ratio (DPR) is 79.10%.

AVB has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on AvalonBay Communities from $247.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft decreased their price target on AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. Scotiabank reduced their target price on AvalonBay Communities from $262.00 to $238.00 in a research note on Thursday, May 19th. Credit Suisse Group started coverage on AvalonBay Communities in a research note on Wednesday. They set a “neutral” rating and a $208.00 target price on the stock. Finally, Truist Financial reduced their target price on AvalonBay Communities from $266.00 to $263.00 and set a “hold” rating on the stock in a research note on Monday, March 7th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.71.

AvalonBay Communities Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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