AvalonBay Communities, Inc. (NYSE:AVB) Holdings Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 801,580 shares of the real estate investment trust’s stock after selling 120,371 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.56% of AvalonBay Communities worth $137,663,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at $1,001,550,000. D1 Capital Partners L.P. purchased a new position in AvalonBay Communities during the 2nd quarter valued at about $152,996,000. Wellington Management Group LLP increased its holdings in shares of AvalonBay Communities by 57.1% in the 1st quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock valued at $531,516,000 after purchasing an additional 777,631 shares during the period. JPMorgan Chase & Co. lifted its position in shares of AvalonBay Communities by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 4,863,429 shares of the real estate investment trust’s stock worth $817,348,000 after purchasing an additional 759,388 shares in the last quarter. Finally, Long Pond Capital LP lifted its position in shares of AvalonBay Communities by 255.8% in the fourth quarter. Long Pond Capital LP now owns 767,824 shares of the real estate investment trust’s stock worth $124,019,000 after purchasing an additional 552,042 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $172.75 on Wednesday. The company has a market cap of $24.53 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.15 and a beta of 0.93. The business has a 50 day moving average price of $181.18 and a 200 day moving average price of $178.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a twelve month low of $153.07 and a twelve month high of $198.65.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period in the prior year, the company posted $2.59 earnings per share. Research analysts predict that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Wednesday, March 27th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio (DPR) is presently 100.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and increased their target price for the stock from $202.00 to $203.00 in a research report on Tuesday, January 16th. TheStreet downgraded AvalonBay Communities from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Piper Sandler raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $197.00 to $194.00 in a research report on Tuesday, October 31st. Evercore ISI boosted their price target on AvalonBay Communities from $183.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. Finally, JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $201.00 to $194.00 in a research note on Wednesday, November 29th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $196.06.

Read Our Latest Stock Analysis on AvalonBay Communities

AvalonBay Communities Profile

(Free Report)

As of September 30, 2023, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 89,240 apartment homes in 12 states and the District of Columbia, of which 17 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

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

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