Corebridge Financial Inc. Has $7.63 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Corebridge Financial Inc. trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,674 shares of the real estate investment trust’s stock after selling 589 shares during the quarter. Corebridge Financial Inc.’s holdings in AvalonBay Communities were worth $7,627,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVB. Stratos Wealth Partners LTD. raised its holdings in AvalonBay Communities by 29.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 288 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock worth $914,627,000 after acquiring an additional 55,588 shares during the last quarter. West Oak Capital LLC lifted its position in AvalonBay Communities by 875.3% in the 4th quarter. West Oak Capital LLC now owns 15,800 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 14,180 shares in the last quarter. Portfolio Design Labs LLC boosted its stake in AvalonBay Communities by 27.0% during the 4th quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust’s stock valued at $4,918,000 after purchasing an additional 4,747 shares during the last quarter. Finally, Savant Capital LLC increased its holdings in AvalonBay Communities by 8.7% during the 4th quarter. Savant Capital LLC now owns 1,264 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 101 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $213.18 on Friday. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The business has a fifty day simple moving average of $217.60 and a two-hundred day simple moving average of $222.58. The company has a market capitalization of $30.33 billion, a P/E ratio of 28.09, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last posted its quarterly 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 net margin of 37.13% and a return on equity of 9.15%. On average, analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.28%. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Analyst Ratings Changes

Several research analysts recently issued reports on AVB shares. Evercore ISI lifted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Piper Sandler cut their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.64.

AvalonBay Communities Company 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.