AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,792 shares of the real estate investment trust’s stock after selling 360 shares during the period. FineMark National Bank & Trust’s holdings in AvalonBay Communities were worth $6,773,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVB. EntryPoint Capital LLC boosted its holdings in AvalonBay Communities by 129.7% in the fourth quarter. EntryPoint Capital LLC now owns 2,240 shares of the real estate investment trust’s stock valued at $493,000 after purchasing an additional 1,265 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at approximately $44,000. LPL Financial LLC grew its position in shares of AvalonBay Communities by 1.4% during the fourth quarter. LPL Financial LLC now owns 80,120 shares of the real estate investment trust’s stock worth $17,624,000 after buying an additional 1,102 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $10,203,000. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in shares of AvalonBay Communities in the fourth quarter worth $4,680,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB opened at $214.40 on Tuesday. The firm has a fifty day moving average of $217.86 and a 200-day moving average of $222.78. The company has a market cap of $30.50 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year 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 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 analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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. This represents a $7.00 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Piper Sandler decreased their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Barclays cut their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Finally, Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

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.