Legacy Capital Wealth Partners LLC Sells 70 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Legacy Capital Wealth Partners LLC trimmed its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 4.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,464 shares of the real estate investment trust’s stock after selling 70 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in AvalonBay Communities were worth $322,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of AvalonBay Communities by 2.2% during the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock worth $2,097,971,000 after acquiring an additional 196,938 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of AvalonBay Communities by 1.4% during 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. Geode Capital Management LLC lifted its stake in shares of AvalonBay Communities by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock worth $805,113,000 after acquiring an additional 27,988 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of AvalonBay Communities by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after acquiring an additional 78,800 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AvalonBay Communities by 678.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after acquiring an additional 1,494,872 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Down 1.0 %

Shares of NYSE:AVB opened at $217.97 on Monday. AvalonBay Communities, Inc. has a 12-month low of $172.85 and a 12-month high of $239.29. The business’s fifty day simple moving average is $219.58 and its 200-day simple moving average is $222.60. The company has a market capitalization of $31.00 billion, a PE ratio of 28.72, a P/E/G ratio of 3.10 and a beta of 0.99. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) 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, equities research analysts predict that AvalonBay Communities, Inc. will post 11.53 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.75 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.21%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 92.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AVB shares. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday. Evercore ISI raised their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Royal Bank of Canada raised their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Finally, Barclays reduced their price objective on AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Moderate Buy” and an average price target of $235.73.

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.