GF Fund Management CO. LTD. Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

GF Fund Management CO. LTD. bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,584 shares of the real estate investment trust's stock, valued at approximately $568,000.

Other large investors have also added to or reduced their stakes in the company. Ancora Advisors LLC grew its holdings in AvalonBay Communities by 1,666.7% during the 4th 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 in the last quarter. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities during the 4th quarter worth $36,000. Crowley Wealth Management Inc. acquired a new position in AvalonBay Communities during the 4th quarter worth $44,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in AvalonBay Communities during the 4th quarter worth $53,000. Finally, Continuum Advisory LLC grew its holdings in AvalonBay Communities by 12,200.0% during the 4th quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 244 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVB. Royal Bank of Canada decreased their price target on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Barclays lifted their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Truist Financial lifted their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $237.86.

AvalonBay Communities Price Performance

Shares of AVB stock traded down $0.96 during midday trading on Friday, reaching $205.06. 376,369 shares of the company were exchanged, compared to its average volume of 712,073. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a market cap of $29.19 billion, a P/E ratio of 27.01, a PEG ratio of 3.11 and a beta of 0.86. The company's 50 day moving average price is $204.33 and its two-hundred day moving average price is $215.38. 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 (NYSE:AVB - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 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 business had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same period in the previous year, the firm earned $2.70 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, June 30th. AvalonBay Communities's dividend payout ratio is presently 87.17%.

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.