Keybank National Association OH Decreases Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Posted by on Apr 20th, 2023

Keybank National Association OH lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,307 shares of the real estate investment trust’s stock after selling 1,270 shares during the period. Keybank National Association OH’s holdings in AvalonBay Communities were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of AvalonBay Communities by 0.4% during the third quarter. Vanguard Group Inc. now owns 22,862,268 shares of the real estate investment trust’s stock worth $4,211,002,000 after purchasing an additional 88,659 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of AvalonBay Communities by 3.5% during the third quarter. Price T Rowe Associates Inc. MD now owns 5,658,277 shares of the real estate investment trust’s stock worth $1,042,200,000 after purchasing an additional 192,378 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of AvalonBay Communities by 57.1% during the first quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock worth $531,516,000 after purchasing an additional 777,631 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in AvalonBay Communities by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,330,539 shares of the real estate investment trust’s stock valued at $330,467,000 after buying an additional 39,399 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in AvalonBay Communities by 2.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,053,718 shares of the real estate investment trust’s stock valued at $170,197,000 after buying an additional 26,983 shares during the period. Hedge funds and other institutional investors own 87.30% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $175.26 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 2.04. The firm’s 50-day moving average is $170.06 and its two-hundred day moving average is $170.26. AvalonBay Communities, Inc. has a 12 month low of $153.07 and a 12 month high of $258.81. The company has a market capitalization of $24.54 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.12 and a beta of 0.92.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were paid a dividend of $1.65 per share. The ex-dividend date of this dividend was Thursday, March 30th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.59. This represents a $6.60 dividend on an annualized basis and a yield of 3.77%. AvalonBay Communities’s payout ratio is 81.38%.

Analyst Ratings Changes

Several research firms recently commented on AVB. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and dropped their price target for the company from $194.00 to $179.00 in a research report on Wednesday, January 4th. Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $186.00 to $189.00 and gave the company a “sector perform” rating in a research report on Friday, February 10th. Wells Fargo & Company began coverage on shares of AvalonBay Communities in a research report on Wednesday, March 29th. They set an “overweight” rating and a $184.00 price target on the stock. Barclays raised their price target on shares of AvalonBay Communities from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 1st. Finally, Truist Financial upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and lifted their target price for the company from $186.00 to $190.00 in a research report on Tuesday, January 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $201.21.

AvalonBay Communities Profile

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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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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