BI Asset Management Fondsmaeglerselskab A S Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,242 shares of the real estate investment trust's stock, valued at approximately $1,153,000.

Several other large investors have also modified their holdings of the stock. Whipplewood Advisors LLC purchased a new stake in shares of AvalonBay Communities during the fourth quarter valued at $36,000. Crowley Wealth Management Inc. acquired a new stake in AvalonBay Communities during the 4th quarter worth about $44,000. Generali Asset Management SPA SGR purchased a new stake in AvalonBay Communities during the fourth quarter valued at about $66,000. Catalyst Capital Advisors LLC boosted its holdings in shares of AvalonBay Communities by 312.5% in 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 period. Finally, Loomis Sayles & Co. L P increased its position in shares of AvalonBay Communities by 42.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 132 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Up 0.4 %

Shares of AvalonBay Communities stock traded up $0.88 during midday trading on Monday, reaching $206.64. 93,978 shares of the company's stock traded hands, compared to its average volume of 688,644. 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, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company's 50 day simple moving average is $209.80 and its 200 day simple moving average is $218.59. The company has a market cap of $29.42 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86.

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 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Equities analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared 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 3.39%. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's dividend payout ratio (DPR) is 92.23%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Evercore ISI raised their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Morgan Stanley cut AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Royal Bank of Canada upped their price target 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. Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Finally, Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and upped their target price for the company from $239.00 to $242.00 in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.47.

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.