Pacer Advisors Inc. Grows Holdings in AvalonBay Communities, Inc. $AVB

Pacer Advisors Inc. grew its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 42.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,167 shares of the real estate investment trust’s stock after purchasing an additional 4,820 shares during the period. Pacer Advisors Inc.’s holdings in AvalonBay Communities were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of AvalonBay Communities by 76.0% during the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after buying an additional 1,017,286 shares during the period. Principal Financial Group Inc. increased its stake in shares of AvalonBay Communities by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after buying an additional 383,983 shares during the period. Teacher Retirement System of Texas increased its stake in shares of AvalonBay Communities by 1,765.8% during the fourth quarter. Teacher Retirement System of Texas now owns 348,068 shares of the real estate investment trust’s stock valued at $63,108,000 after buying an additional 329,413 shares during the period. Bahl & Gaynor Inc. increased its stake in shares of AvalonBay Communities by 126.5% during the third quarter. Bahl & Gaynor Inc. now owns 555,832 shares of the real estate investment trust’s stock valued at $107,370,000 after buying an additional 310,412 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of AvalonBay Communities by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock valued at $814,376,000 after buying an additional 249,171 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $186.45 on Thursday. The business’s 50-day moving average is $172.65 and its two-hundred day moving average is $176.61. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $209.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $25.94 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.22 and a beta of 0.79.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same quarter last year, the firm earned $2.83 EPS. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

AVB has been the topic of several research reports. Cantor Fitzgerald raised their price target on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Wells Fargo & Company cut their price target on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Finally, Piper Sandler cut their price target on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $197.27.

Check Out Our Latest Report on AvalonBay Communities

AvalonBay Communities Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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