Stifel Financial Corp Sells 2,700 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Stifel Financial Corp lessened its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,831 shares of the real estate investment trust's stock after selling 2,700 shares during the quarter. Stifel Financial Corp owned 0.05% of AvalonBay Communities worth $16,241,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AVB. Norges Bank acquired a new position in AvalonBay Communities during the 4th quarter valued at approximately $1,499,050,000. Wellington Management Group LLP lifted its stake in AvalonBay Communities by 49.9% in the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after purchasing an additional 828,009 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of AvalonBay Communities by 25.7% during the 4th quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock worth $688,527,000 after purchasing an additional 639,402 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of AvalonBay Communities by 51.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust's stock valued at $121,927,000 after buying an additional 188,906 shares during the period. Finally, Invesco Ltd. lifted its position in shares of AvalonBay Communities by 13.4% during the fourth quarter. Invesco Ltd. now owns 1,449,566 shares of the real estate investment trust's stock worth $318,861,000 after purchasing an additional 170,952 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

NYSE:AVB traded down $0.23 during mid-day trading on Thursday, reaching $209.76. 212,208 shares of the company's stock were exchanged, compared to its average volume of 688,842. 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, Inc. has a one year low of $180.40 and a one year high of $239.29. The firm has a market capitalization of $29.86 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The business's fifty day simple moving average is $209.19 and its two-hundred day simple moving average is $218.37.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The firm had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. During the same quarter last year, the business earned $2.70 EPS. Analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $1.75 per share. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, March 31st. AvalonBay Communities's payout ratio is 92.23%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zelman & Associates raised AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. Evercore ISI raised their price target on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Mizuho raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating and upped their price target for the company from $239.00 to $242.00 in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of "Hold" and a consensus price target of $239.29.

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.