Rhumbline Advisers Cuts Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Rhumbline Advisers trimmed its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 285,442 shares of the real estate investment trust’s stock after selling 4,170 shares during the period. Rhumbline Advisers owned 0.20% of AvalonBay Communities worth $62,789,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities during the third quarter valued at $26,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities during the third quarter valued at $39,000. Prospera Private Wealth LLC bought a new position in AvalonBay Communities during the third quarter valued at $51,000. MassMutual Private Wealth & Trust FSB lifted its position in AvalonBay Communities by 59.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 179 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in AvalonBay Communities during the third quarter valued at $126,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Down 1.0 %

Shares of AVB opened at $217.97 on Monday. AvalonBay Communities, Inc. has a 1-year low of $172.85 and a 1-year high of $239.29. The company has a 50-day moving average of $219.58 and a 200 day moving average of $222.60. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.10 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data 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 net margin of 37.13% and a return on equity of 9.15%. On average, research analysts expect that AvalonBay Communities, Inc. will post 11.53 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.21%. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Wall Street Analysts Forecast Growth

AVB has been the subject of several research reports. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Scotiabank lowered their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Evercore ISI increased their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Finally, Barclays lowered their price objective on shares of AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.73.

AvalonBay Communities 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.