Legal & General Group Plc Has $410.87 Million Holdings in AvalonBay Communities, Inc. $AVB

Legal & General Group Plc reduced its stake in AvalonBay Communities, Inc. by 7.2% in the third quarter, holding 2,126,971 shares valued at $410.87 million. Other institutional investors also adjusted their holdings, with 92.61% of the stock owned by institutions and hedge funds. AvalonBay Communities recently announced an increased quarterly dividend of $1.78 per share and reported earnings that slightly beat analyst expectations, while analysts have a consensus “Hold” rating on the stock.