United Community Bank Sells 7,085 Shares of AvalonBay Communities, Inc. $AVB

United Community Bank trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 91.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 640 shares of the real estate investment trust’s stock after selling 7,085 shares during the period. United Community Bank’s holdings in AvalonBay Communities were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AVB. Vanguard Group Inc. grew its position in shares of AvalonBay Communities by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock valued at $4,639,876,000 after purchasing an additional 127,693 shares during the period. State Street Corp lifted its stake in AvalonBay Communities by 2.0% in the second quarter. State Street Corp now owns 9,445,499 shares of the real estate investment trust’s stock valued at $1,938,326,000 after buying an additional 182,952 shares in the last quarter. Norges Bank acquired a new position in shares of AvalonBay Communities in the second quarter valued at approximately $1,394,225,000. JPMorgan Chase & Co. increased its position in shares of AvalonBay Communities by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 3,966,650 shares of the real estate investment trust’s stock worth $807,220,000 after acquiring an additional 152,220 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AvalonBay Communities by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock worth $785,551,000 after acquiring an additional 57,599 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVB has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Scotiabank reduced their price objective on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Piper Sandler dropped their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Finally, Morgan Stanley cut their target price on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $203.50.

AvalonBay Communities Price Performance

NYSE:AVB opened at $175.20 on Tuesday. The stock’s 50-day simple moving average is $179.74 and its 200 day simple moving average is $185.46. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $230.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $24.81 billion, a P/E ratio of 21.39, a P/E/G ratio of 3.04 and a beta of 0.75.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 85.47%.

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.