Adage Capital Partners GP L.L.C. Decreases Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Adage Capital Partners GP L.L.C. lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,458 shares of the real estate investment trust's stock after selling 20,067 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.13% of AvalonBay Communities worth $41,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Whipplewood Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $36,000. Crowley Wealth Management Inc. purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $44,000. Generali Asset Management SPA SGR acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $66,000. Catalyst Capital Advisors LLC grew its position in 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 buying an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in 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 in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 0.4 %

Shares of NYSE AVB traded up $0.83 during mid-day trading on Wednesday, hitting $208.01. 219,469 shares of the stock traded hands, compared to its average volume of 687,721. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a fifty day moving average price of $209.36 and a 200-day moving average price of $218.43. The company has a market cap of $29.61 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released 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%. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.37%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date was Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AVB shares. Truist Financial lifted their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Morgan Stanley lowered shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Piper Sandler lowered their target price on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 11th. Finally, Mizuho raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and increased their price target for the company from $239.00 to $242.00 in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.

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.