Legal & General Group Plc increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 0.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,132,907 shares of the real estate investment trust’s stock after acquiring an additional 5,936 shares during the period. Legal & General Group Plc’s holdings in AvalonBay Communities were worth $386,717,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AVB. Empowered Funds LLC boosted its position in shares of AvalonBay Communities by 5.7% during the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after acquiring an additional 148 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of AvalonBay Communities by 2.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 129 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of AvalonBay Communities during the 2nd quarter valued at about $1,374,000. Cresset Asset Management LLC boosted its position in shares of AvalonBay Communities by 14.2% during the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 360 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of AvalonBay Communities by 9.5% during the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock valued at $3,837,000 after acquiring an additional 1,629 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AVB has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Wednesday, April 8th. UBS Group cut their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Barclays cut their price target on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Royal Bank Of Canada lifted their price target on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company cut their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $196.93.
AvalonBay Communities Trading Down 0.1%
Shares of AVB stock opened at $185.39 on Wednesday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $209.86. The company has a market capitalization of $25.79 billion, a P/E ratio of 26.87, a P/E/G ratio of 2.74 and a beta of 0.79. The firm has a 50-day moving average price of $174.39 and a 200 day moving average price of $176.93. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80.
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million during the quarter, compared to the consensus estimate of $768.80 million. During the same period in the prior year, the firm posted $2.83 earnings per share. Research analysts forecast that AvalonBay Communities, Inc. will post 11.3 earnings per share for the current fiscal year.
AvalonBay Communities Company Profile
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.
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