MetLife Investment Management LLC Raises Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

MetLife Investment Management LLC boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 41,765 shares of the real estate investment trust’s stock after purchasing an additional 526 shares during the quarter. MetLife Investment Management LLC’s holdings in AvalonBay Communities were worth $9,187,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AVB shares. Royal Bank of Canada boosted their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Piper Sandler dropped their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Evercore ISI raised their target price on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $239.00 to $242.00 in a research note on Monday, January 6th. Finally, Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.47.

AvalonBay Communities Stock Performance

AVB opened at $201.90 on Tuesday. The firm has a fifty day moving average price of $210.76 and a 200 day moving average price of $218.91. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29. The stock has a market cap of $28.74 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.11 and a beta of 0.86. 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 posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (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 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend yield of 3.47%. AvalonBay Communities’s 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.