Guggenheim Capital LLC Cuts Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Guggenheim Capital LLC reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 89.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,609 shares of the real estate investment trust's stock after selling 46,123 shares during the quarter. Guggenheim Capital LLC's holdings in AvalonBay Communities were worth $1,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVB. Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth $1,499,050,000. Principal Financial Group Inc. lifted its position in AvalonBay Communities by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust's stock worth $1,009,781,000 after acquiring an additional 27,629 shares during the last quarter. JPMorgan Chase & Co. raised its stake in 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 valued at $914,627,000 after purchasing an additional 55,588 shares during the last quarter. Geode Capital Management LLC raised its holdings in AvalonBay Communities by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock valued at $810,470,000 after acquiring an additional 107,655 shares in the last quarter. Finally, Cohen & Steers Inc. increased its stake in AvalonBay Communities by 25.7% in the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock valued at $688,527,000 after acquiring an additional 639,402 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVB shares. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Truist Financial upped their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Royal Bank of Canada raised their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Finally, Barclays boosted their target price on shares of AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.47.

AvalonBay Communities Stock Down 0.4 %

NYSE AVB traded down $0.87 during mid-day trading on Friday, hitting $205.86. The company's stock had a trading volume of 642,822 shares, compared to its average volume of 690,962. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. The firm has a market capitalization of $29.31 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.11 and a beta of 0.86. The company's 50 day simple moving average is $209.80 and its 200 day simple moving average is $218.59. 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, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $1.75 dividend. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, March 31st. AvalonBay Communities's dividend payout ratio (DPR) is currently 92.23%.

About AvalonBay Communities

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.