Ameriprise Financial Inc. Decreases Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Ameriprise Financial Inc. cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,718,473 shares of the real estate investment trust's stock after selling 37,679 shares during the quarter. Ameriprise Financial Inc. owned 1.21% of AvalonBay Communities worth $378,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in AvalonBay Communities in the fourth quarter valued at about $1,499,050,000. Price T Rowe Associates Inc. MD increased its holdings in AvalonBay Communities by 35.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock valued at $1,133,328,000 after buying an additional 1,336,698 shares during the period. Northern Trust Corp raised its position in shares of AvalonBay Communities by 54.8% in the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust's stock valued at $581,324,000 after buying an additional 935,770 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of AvalonBay Communities by 49.9% during the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after acquiring an additional 828,009 shares during the period. Finally, Cohen & Steers Inc. boosted its position in shares of AvalonBay Communities by 25.7% during the 4th quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock worth $688,527,000 after acquiring an additional 639,402 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Up 0.5 %

Shares of NYSE:AVB traded up $0.95 during midday trading on Friday, hitting $205.40. 522,050 shares of the company's stock were exchanged, compared to its average volume of 699,166. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a market cap of $29.24 billion, a PE ratio of 27.06, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $206.99 and a 200-day moving average price of $217.49.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analysts' expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same quarter in the previous year, the firm earned $2.70 earnings per share. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on AVB shares. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Barclays increased their target price on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday. Piper Sandler cut their price objective on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Evercore ISI raised their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Finally, Morgan Stanley lowered shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $238.86.

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.