AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,030 shares of the real estate investment trust's stock after selling 2,982 shares during the quarter. Mackenzie Financial Corp's holdings in AvalonBay Communities were worth $3,526,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its holdings in AvalonBay Communities by 29.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust's stock worth $277,000 after acquiring an additional 288 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of AvalonBay Communities by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock worth $914,627,000 after purchasing an additional 55,588 shares during the period. Hsbc Holdings PLC raised its position in shares of AvalonBay Communities by 1.4% during the 4th quarter. Hsbc Holdings PLC now owns 604,010 shares of the real estate investment trust's stock worth $132,751,000 after purchasing an additional 8,439 shares during the period. Portfolio Design Labs LLC lifted its holdings in shares of AvalonBay Communities by 27.0% in the 4th quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust's stock worth $4,918,000 after purchasing an additional 4,747 shares during the last quarter. Finally, Sei Investments Co. boosted its position in AvalonBay Communities by 14.1% during the 4th quarter. Sei Investments Co. now owns 344,139 shares of the real estate investment trust's stock valued at $75,701,000 after purchasing an additional 42,416 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVB has been the topic of several analyst reports. Evercore ISI increased their target price on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Morgan Stanley lifted their price objective on shares of AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a research report on Thursday, May 15th. Truist Financial boosted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Wall Street Zen lowered shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Scotiabank boosted their price objective on AvalonBay Communities from $241.00 to $251.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $237.86.

AvalonBay Communities Price Performance

Shares of AVB stock traded down $3.15 during mid-day trading on Tuesday, hitting $204.00. 1,001,011 shares of the stock traded hands, compared to its average volume of 716,075. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The company's 50-day simple moving average is $203.89 and its 200-day simple moving average is $214.77. The firm has a market cap of $29.04 billion, a price-to-earnings ratio of 26.88, 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 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 return on equity of 9.15% and a net margin of 37.13%. The business had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. During the same quarter last year, the business posted $2.70 earnings per share. As a group, equities research 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 issued a $1.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.43%. AvalonBay Communities's payout ratio is currently 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.