Voya Investment Management LLC Reduces Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Voya Investment Management LLC lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,588 shares of the real estate investment trust's stock after selling 2,881 shares during the quarter. Voya Investment Management LLC's holdings in AvalonBay Communities were worth $9,148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in AvalonBay Communities in the fourth quarter worth approximately $36,000. Crowley Wealth Management Inc. purchased a new stake in AvalonBay Communities in the fourth quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in AvalonBay Communities in the fourth quarter worth approximately $66,000. Catalyst Capital Advisors LLC raised its position in AvalonBay Communities by 312.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 275 shares during the period. Finally, Loomis Sayles & Co. L P raised its position in AvalonBay Communities by 42.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $207.87 on Tuesday. 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 has a market cap of $29.59 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.11 and a beta of 0.86. The firm's fifty day moving average is $209.61 and its two-hundred day moving average is $218.51. AvalonBay Communities, Inc. has a 52-week low of $180.40 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $1.75 per share. The ex-dividend date was Monday, March 31st. 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 3.37%. AvalonBay Communities's dividend payout ratio is 92.23%.

Analysts Set New Price Targets

Several research firms have weighed in on AVB. Piper Sandler decreased their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley downgraded shares of 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 report on Friday, January 24th. Royal Bank of Canada increased their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective on the stock. in a research report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.47.

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.

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