Uniplan Investment Counsel Inc. Has $15.25 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Uniplan Investment Counsel Inc. reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,326 shares of the real estate investment trust's stock after selling 1,493 shares during the quarter. AvalonBay Communities comprises 1.4% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 19th largest holding. Uniplan Investment Counsel Inc.'s holdings in AvalonBay Communities were worth $15,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in AvalonBay Communities during the third quarter worth about $126,000. Tidal Investments LLC grew its holdings in AvalonBay Communities by 18.9% during the third quarter. Tidal Investments LLC now owns 76,652 shares of the real estate investment trust's stock worth $17,266,000 after acquiring an additional 12,165 shares during the period. Franklin Resources Inc. increased its stake in AvalonBay Communities by 11.6% in the 3rd quarter. Franklin Resources Inc. now owns 212,338 shares of the real estate investment trust's stock worth $47,056,000 after purchasing an additional 22,076 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in AvalonBay Communities by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock worth $914,627,000 after buying an additional 55,588 shares during the period. Finally, GAMMA Investing LLC raised its holdings in AvalonBay Communities by 13.5% during the 4th quarter. GAMMA Investing LLC now owns 2,606 shares of the real estate investment trust's stock worth $573,000 after buying an additional 309 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AVB shares. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Piper Sandler cut their price objective on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada boosted their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. Finally, Barclays boosted their price objective on AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Eight equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.47.

AvalonBay Communities Stock Down 0.4 %

Shares of NYSE AVB traded down $0.87 during trading hours on Friday, hitting $205.86. The stock had a trading volume of 642,822 shares, compared to its average volume of 690,962. The company has a market capitalization of $29.31 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.11 and a beta of 0.86. The firm's 50-day moving average price is $209.80 and its two-hundred day moving average price is $218.59. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. 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 - Get Free Report) last announced its quarterly earnings results 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 net margin of 37.13% and a return on equity of 9.15%. Analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $1.75 per share. The ex-dividend date was Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.40%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio is presently 92.23%.

About AvalonBay Communities

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.