Kentucky Retirement Systems Sells 134 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Kentucky Retirement Systems cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,760 shares of the real estate investment trust’s stock after selling 134 shares during the quarter. Kentucky Retirement Systems’ holdings in AvalonBay Communities were worth $2,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AVB. RPg Family Wealth Advisory LLC purchased a new position in shares of AvalonBay Communities in the third quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in shares of AvalonBay Communities in the third quarter worth approximately $39,000. Prospera Private Wealth LLC purchased a new position in shares of AvalonBay Communities in the third quarter worth approximately $51,000. Catalyst Capital Advisors LLC boosted its holdings in shares of AvalonBay Communities by 312.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 275 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of AvalonBay Communities by 59.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 179 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVB shares. Barclays dropped their price objective on shares of AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a report on Wednesday. Scotiabank dropped their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $239.00 to $242.00 in a report on Monday, January 6th. Finally, Evercore ISI lifted their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Trading Down 0.3 %

AvalonBay Communities stock opened at $218.78 on Friday. The stock has a market cap of $31.12 billion, a P/E ratio of 28.82, a PEG ratio of 3.12 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a 1 year low of $172.85 and a 1 year high of $239.29. The firm’s 50 day moving average price is $218.76 and its 200-day moving average price is $222.96.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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, equities analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business 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 dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.20%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is presently 89.59%.

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.