Billionaire Andreas Halvorsen’s Top 5 Best Dividend Stock Picks

1. AvalonBay Communities Inc. (NYSE: AVB)

Viking owns 1.21 million shares shares of AvalonBay Communities after lowering its stake by 53% in Q4 2020. The company has a 3.35% dividend yield. In Q4 2020, 32 hedge funds out of 887 had a stake in the company, higher than the 29 in the previous quarter. Deutsche Bank analyst Derek Johnston downgraded AvalonBay Communities to a “sell’’ courtesy of the increased uncertainty, affected earning capacity and inflated valuations. He believes that it might take between two to four years for the REIT to recover to 2019 operating level of operations.

AvalonBay is a real estate company whose headquarters are in Virginia. It has almost 80,000 apartment units located in multiple areas, including California, Seattle, New York, and Washington D.C. The company has been around since 1988 and was formed through a merger between Bay Apartment Communities Inc. and Avalon Properties Inc.

Long Pond Capital is AvalonBay’s largest hedge fund shareholder with 1.73 million shares, followed by Viking Global.

You can also take a peek at 10 Best Dividend Stocks According to George Soros and 10 Best Software Stocks To Buy According To Billionaire Chase Coleman.

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