AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,384 shares of the real estate investment trust’s stock after selling 55 shares during the quarter. Summit Investment Advisors Inc.’s holdings in AvalonBay Communities were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new position in shares of AvalonBay Communities during the 4th quarter worth $36,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in shares of AvalonBay Communities during the 4th quarter valued at approximately $66,000. Catalyst Capital Advisors LLC lifted its holdings in 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 valued at $80,000 after acquiring an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew 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 acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

AVB has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Evercore ISI lifted their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective on the stock. in a report on Friday, April 4th. Finally, Royal Bank of Canada raised 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. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.47.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $202.93 on Monday. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $28.89 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The business’s fifty day moving average price is $211.08 and its 200 day moving average price is $219.04.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate 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 anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $1.75 dividend. The ex-dividend date was 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 yield of 3.45%. 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.