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

Mackenzie Financial Corp trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 25.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 32,192 shares of the real estate investment trust's stock after selling 11,019 shares during the quarter. Mackenzie Financial Corp's holdings in AvalonBay Communities were worth $6,027,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new position in shares of AvalonBay Communities during the 3rd quarter valued at about $26,000. Quarry LP lifted its position in shares of AvalonBay Communities by 255.6% during the 2nd quarter. Quarry LP now owns 192 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 138 shares in the last quarter. Castleview Partners LLC lifted its position in shares of AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 216 shares in the last quarter. Ronald Blue Trust Inc. lifted its position in shares of AvalonBay Communities by 316.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 171 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new position in shares of AvalonBay Communities during the 4th quarter valued at about $45,000. 92.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 5,000 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares of the company's stock, valued at approximately $5,812,330.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares of the company's stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. O'shea sold 5,000 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the sale, the chief financial officer now owns 31,308 shares of the company's stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. KeyCorp reissued a "sector weight" rating on shares of AvalonBay Communities in a report on Friday, January 5th. Royal Bank of Canada reissued a "sector perform" rating and issued a $185.00 price target on shares of AvalonBay Communities in a report on Friday, February 2nd. The Goldman Sachs Group reissued a "neutral" rating and issued a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, February 22nd. Mizuho lowered their price target on AvalonBay Communities from $188.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Finally, Morgan Stanley raised AvalonBay Communities from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $175.00 to $191.50 in a report on Monday, February 26th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of "Hold" and an average target price of $196.78.

AvalonBay Communities Trading Up 1.2 %

Shares of NYSE AVB traded up $2.11 during trading hours on Friday, hitting $184.13. 543,043 shares of the company traded hands, compared to its average volume of 681,630. The stock has a market capitalization of $26.18 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 3.43 and a beta of 0.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The company's 50 day moving average price is $181.15 and its 200 day moving average price is $178.10. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($1.03). The company had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period in the prior year, the firm posted $2.59 EPS. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.65. AvalonBay Communities's dividend payout ratio is 103.82%.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.