AvalonBay Communities, Inc. $AVB Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department decreased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 28.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,227 shares of the real estate investment trust’s stock after selling 4,040 shares during the quarter. Mechanics Bank Trust Department’s holdings in AvalonBay Communities were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC raised its holdings in AvalonBay Communities by 5.7% in the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after acquiring an additional 148 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of AvalonBay Communities by 0.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,126 shares of the real estate investment trust’s stock valued at $1,654,000 after purchasing an additional 76 shares in the last quarter. Vinva Investment Management Ltd lifted its position in shares of AvalonBay Communities by 30.3% during the 2nd quarter. Vinva Investment Management Ltd now owns 9,494 shares of the real estate investment trust’s stock worth $1,940,000 after purchasing an additional 2,208 shares during the last quarter. Korea Investment CORP grew its stake in shares of AvalonBay Communities by 64.1% during the second quarter. Korea Investment CORP now owns 137,771 shares of the real estate investment trust’s stock worth $28,036,000 after purchasing an additional 53,826 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in AvalonBay Communities by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 129,798 shares of the real estate investment trust’s stock valued at $26,414,000 after buying an additional 1,290 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.5%

AVB stock opened at $160.88 on Friday. The company has a market cap of $22.54 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 2.82 and a beta of 0.75. The company has a fifty day moving average price of $174.04 and a 200 day moving average price of $180.10. 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, Inc. has a 12 month low of $160.35 and a 12 month high of $216.47.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.01. The company had revenue of $767.86 million for 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 period last year, the firm posted $2.80 EPS. Sell-side 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 Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.78 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, March 31st. AvalonBay Communities’s dividend payout ratio is 85.47%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AVB. Barclays lowered their price objective on AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research report on Friday, March 6th. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a research note on Tuesday, January 20th. Wall Street Zen downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Scotiabank dropped their target price on shares of AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $198.44.

About AvalonBay Communities

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.