USS Investment Management Ltd Lowers Stake in AvalonBay Communities, Inc. (NYSE:AVB)

USS Investment Management Ltd lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 24.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,127 shares of the real estate investment trust's stock after selling 10,024 shares during the period. USS Investment Management Ltd's holdings in AvalonBay Communities were worth $6,850,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ancora Advisors LLC boosted its stake in shares of AvalonBay Communities by 1,666.7% in the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 150 shares during the period. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the 4th quarter worth approximately $36,000. Crowley Wealth Management Inc. bought a new position in AvalonBay Communities in the 4th quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AvalonBay Communities in the 4th quarter worth approximately $53,000. Finally, CoreCap Advisors LLC grew its holdings in AvalonBay Communities by 58.9% during the 4th quarter. CoreCap Advisors LLC now owns 251 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 93 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Up 1.3%

NYSE:AVB traded up $2.63 during midday trading on Tuesday, hitting $200.66. 157,236 shares of the company traded hands, compared to its average volume of 708,887. The firm has a market capitalization of $28.57 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.11 and a beta of 0.86. The firm's fifty day moving average is $204.85 and its 200-day moving average is $215.75. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

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

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $1.75 per share. The ex-dividend date is Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.49%. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Scotiabank boosted their target price on shares of AvalonBay Communities from $241.00 to $251.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Evercore ISI lifted their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Mizuho decreased their price target on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a research note on Friday. Barclays raised their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reduced their target price on AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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.