KBC Group NV cut its stake in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 26.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,535 shares of the real estate investment trust’s stock after selling 14,201 shares during the quarter. KBC Group NV’s holdings in AvalonBay Communities were worth $6,457,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. B&I Capital AG acquired a new position in AvalonBay Communities in the 1st quarter valued at $11,194,000. Fort Washington Investment Advisors Inc. OH purchased a new position in AvalonBay Communities in the 4th quarter valued at $26,237,000. Principal Financial Group Inc. boosted its stake in AvalonBay Communities by 9.3% during the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after purchasing an additional 383,983 shares during the last quarter. Pensionfund Sabic acquired a new stake in AvalonBay Communities during the 4th quarter worth $1,813,000. Finally, Duff & Phelps Investment Management Co. grew its holdings in shares of AvalonBay Communities by 4.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 940,065 shares of the real estate investment trust’s stock worth $170,443,000 after buying an additional 40,216 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Friday, June 26th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a research report on Monday, June 1st. Piper Sandler upped their price objective on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a report on Monday, July 6th. Finally, Wells Fargo & Company decreased their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $196.80.
AvalonBay Communities Stock Down 0.2%
Shares of AVB opened at $190.27 on Thursday. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $204.68. The company has a market capitalization of $27.03 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77. The stock has a fifty day simple moving average of $187.17 and a two-hundred day simple moving average of $179.29. 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 quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $2.86 earnings per share for the quarter, beating the consensus estimate of $1.23 by $1.63. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The firm had revenue of $712.17 million for the quarter, compared to analysts’ expectations of $772.37 million. During the same quarter in the previous year, the company posted $2.82 EPS. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.28 EPS for the current year.
AvalonBay Communities Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio is currently 103.19%.
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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