Franklin Resources Inc. Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Franklin Resources Inc. increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,353 shares of the real estate investment trust’s stock after purchasing an additional 11,015 shares during the quarter. Franklin Resources Inc. owned about 0.16% of AvalonBay Communities worth $49,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at about $36,000. Crowley Wealth Management Inc. bought a new stake in AvalonBay Communities during the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR purchased a new stake in AvalonBay Communities in the 4th quarter worth approximately $66,000. Catalyst Capital Advisors LLC grew its position in shares of AvalonBay Communities by 312.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 275 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in AvalonBay Communities by 42.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 132 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Down 6.9 %

Shares of NYSE:AVB opened at $191.69 on Friday. The stock’s 50-day moving average is $216.75 and its 200 day moving average is $221.69. The company has a market cap of $27.27 billion, a PE ratio of 25.26, a P/E/G ratio of 3.11 and a beta of 0.86. 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 $177.40 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 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%. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. The ex-dividend date is Monday, March 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.65%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s payout ratio is currently 92.23%.

Analyst Ratings Changes

A number of research firms have weighed in on AVB. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a research report on Friday. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Piper Sandler cut their target price 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. Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Finally, Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.40.

AvalonBay Communities Company 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.