Lincluden Management Ltd. Sells 671 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Lincluden Management Ltd. lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,470 shares of the real estate investment trust’s stock after selling 671 shares during the quarter. Lincluden Management Ltd.’s holdings in AvalonBay Communities were worth $2,743,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of AvalonBay Communities by 4.7% in the third quarter. Creative Planning now owns 9,004 shares of the real estate investment trust’s stock valued at $2,028,000 after acquiring an additional 408 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in AvalonBay Communities by 3.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,776 shares of the real estate investment trust’s stock valued at $1,752,000 after purchasing an additional 263 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in AvalonBay Communities in the 3rd quarter valued at $210,000. Private Advisor Group LLC boosted its stake in AvalonBay Communities by 15.3% in the third quarter. Private Advisor Group LLC now owns 2,449 shares of the real estate investment trust’s stock worth $552,000 after purchasing an additional 325 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of AvalonBay Communities by 9.5% during the third quarter. Ballentine Partners LLC now owns 2,586 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 224 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Scotiabank cut their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Evercore ISI upped their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. 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 note on Tuesday, February 11th. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Stock Up 1.0 %

Shares of AvalonBay Communities stock opened at $221.12 on Tuesday. The business has a fifty day simple moving average of $218.63 and a 200 day simple moving average of $223.15. The stock has a market cap of $31.45 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12 month low of $172.85 and a 12 month high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted 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 return on equity of 9.15% and a net margin of 37.13%. Research analysts predict 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 Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.75 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.17%. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

AvalonBay Communities Profile

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.