Toronto Dominion Bank Acquires 5,349 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Toronto Dominion Bank boosted its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,999 shares of the real estate investment trust's stock after buying an additional 5,349 shares during the period. Toronto Dominion Bank owned approximately 0.05% of AvalonBay Communities worth $16,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in AvalonBay Communities in the fourth quarter valued at $1,499,050,000. Price T Rowe Associates Inc. MD increased its stake in AvalonBay Communities by 35.0% in the fourth 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 purchasing an additional 1,336,698 shares in the last quarter. Principal Financial Group Inc. increased its stake in AvalonBay Communities by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust's stock valued at $1,009,781,000 after purchasing an additional 27,629 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AvalonBay Communities by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock valued at $914,627,000 after purchasing an additional 55,588 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AvalonBay Communities by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock worth $810,470,000 after acquiring an additional 107,655 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock traded up $0.52 on Friday, reaching $206.54. The stock had a trading volume of 2,083,709 shares, compared to its average volume of 715,940. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29. The company has a market cap of $29.40 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. 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 business's 50 day moving average is $204.21 and its two-hundred day moving average is $215.00.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The firm had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same period in the prior year, the firm posted $2.70 earnings per share. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is 87.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Mizuho decreased their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Royal Bank of Canada decreased their target price on AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Truist Financial boosted their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, March 10th. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target on the stock. in a report on Friday, April 4th. Finally, Wall Street Zen downgraded shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of "Hold" and a consensus target price of $237.86.

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.