Victory Capital Management Inc. Sells 3,462 Shares of AvalonBay Communities, Inc. $AVB

Victory Capital Management Inc. decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,978 shares of the real estate investment trust’s stock after selling 3,462 shares during the period. Victory Capital Management Inc. owned about 0.07% of AvalonBay Communities worth $18,926,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AVB. Mather Group LLC. acquired a new position in shares of AvalonBay Communities during the third quarter worth $30,000. Clearstead Trust LLC boosted its holdings in shares of AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. AlphaQuest LLC bought a new stake in AvalonBay Communities during the 3rd quarter worth $33,000. Headlands Technologies LLC bought a new stake in AvalonBay Communities during the 2nd quarter worth $36,000. Finally, Atlantic Union Bankshares Corp acquired a new position in AvalonBay Communities in the 2nd quarter worth about $59,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $174.33 on Wednesday. The stock’s 50 day moving average is $177.89 and its 200 day moving average is $182.52. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $217.35. The firm has a market cap of $24.42 billion, a P/E ratio of 21.29, a P/E/G ratio of 3.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.77.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The business had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same quarter in the prior year, the firm posted $2.80 EPS. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $1.78 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. AvalonBay Communities’s payout ratio is 85.47%.

Analyst Ratings Changes

AVB has been the subject of several research reports. Colliers Securities reiterated a “neutral” rating and issued a $195.00 target price (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Royal Bank Of Canada dropped their price objective on shares of AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Mizuho reduced their target price on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Finally, Scotiabank decreased their price target on shares of AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $199.66.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.