Canada Pension Plan Investment Board Cuts Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Canada Pension Plan Investment Board lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,019,317 shares of the real estate investment trust's stock after selling 15,085 shares during the period. Canada Pension Plan Investment Board owned 1.42% of AvalonBay Communities worth $444,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AVB. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities during the fourth quarter worth about $36,000. Crowley Wealth Management Inc. bought a new position in AvalonBay Communities in the 4th quarter valued at approximately $44,000. Generali Asset Management SPA SGR acquired a new stake in AvalonBay Communities in the fourth quarter valued at approximately $66,000. Catalyst Capital Advisors LLC grew its stake 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 worth $80,000 after buying an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of AvalonBay Communities by 42.6% during the fourth 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 in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Evercore ISI upped 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 report on Monday, February 10th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Piper Sandler lowered their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Finally, Barclays upped their price target on shares of AvalonBay Communities from $226.00 to $227.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities presently has a consensus rating of "Moderate Buy" and an average target price of $237.47.

AvalonBay Communities Stock Performance

NYSE:AVB traded up $4.85 during mid-day trading on Tuesday, reaching $206.64. The company's stock had a trading volume of 154,081 shares, compared to its average volume of 757,485. The firm's fifty day moving average price is $210.76 and its two-hundred day moving average price is $218.91. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a market cap of $29.42 billion, a P/E ratio of 27.23, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio (DPR) 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.