Martingale Asset Management L P Has $2.35 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Martingale Asset Management L P trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 68.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,659 shares of the real estate investment trust’s stock after selling 22,891 shares during the period. Martingale Asset Management L P’s holdings in AvalonBay Communities were worth $2,345,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVB. Whipplewood Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $36,000. Crowley Wealth Management Inc. bought a new stake in AvalonBay Communities during the fourth quarter worth $44,000. Generali Asset Management SPA SGR acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at $66,000. Catalyst Capital Advisors LLC increased its stake in shares of AvalonBay Communities by 312.5% in the 4th 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 during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of AvalonBay Communities by 42.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 132 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their target price for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a report on Monday, March 10th. Piper Sandler lowered their target price on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, BMO Capital Markets cut AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.40.

AvalonBay Communities Stock Down 3.4 %

Shares of AvalonBay Communities stock opened at $193.52 on Friday. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.11 and a beta of 0.86. The stock’s 50-day moving average is $213.58 and its 200 day moving average is $220.11. 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, Inc. has a one year low of $177.40 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS 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%. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $1.75 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is 92.23%.

AvalonBay Communities Company 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.