Mackenzie Financial Corp Lowers Position in AvalonBay Communities, Inc. (NYSE:AVB)

Mackenzie Financial Corp lowered its holdings 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 firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ancora Advisors LLC lifted 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 valued at $35,000 after buying an additional 150 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities during the fourth quarter valued at about $36,000. Crowley Wealth Management Inc. acquired a new position in shares of AvalonBay Communities during the fourth quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in AvalonBay Communities during the 4th quarter worth approximately $53,000. Finally, Continuum Advisory LLC increased 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 purchasing an additional 244 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on AVB shares. Morgan Stanley boosted their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Mizuho reduced 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 note on Friday, May 23rd. Evercore ISI boosted their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Finally, Royal Bank of Canada decreased their price objective on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $237.86.

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded up $0.52 during trading on Friday, hitting $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 quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock's 50 day moving average is $204.21 and its two-hundred day moving average is $215.21. The stock has a market cap of $29.40 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS 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 for the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the prior year, the business earned $2.70 earnings per share. As a group, analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The business 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 of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.39%. AvalonBay Communities's dividend 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.