Handelsbanken Fonder AB Has $20.17 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Handelsbanken Fonder AB lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 9.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,673 shares of the real estate investment trust’s stock after buying an additional 7,605 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of AvalonBay Communities worth $20,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities in the third quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities in the third quarter valued at about $39,000. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the third quarter valued at about $51,000. Catalyst Capital Advisors LLC raised its stake 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 purchasing an additional 275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in AvalonBay Communities by 59.9% in 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 in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $218.78 on Friday. The stock has a market capitalization of $31.12 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.09 and a beta of 0.99. AvalonBay Communities, Inc. has a 52-week low of $172.85 and a 52-week high of $239.29. The stock’s 50 day moving average price is $218.76 and its two-hundred day moving average price is $222.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

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 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%. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is presently 92.23%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVB. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Scotiabank dropped their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada boosted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Barclays lowered their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Moderate Buy” and an average price target of $235.47.

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.