Candriam S.C.A. increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 16.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,788 shares of the real estate investment trust’s stock after acquiring an additional 2,715 shares during the period. Candriam S.C.A.’s holdings in AvalonBay Communities were worth $3,069,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in shares of AvalonBay Communities during the 4th quarter worth $25,000. Zions Bancorporation National Association UT grew its holdings in shares of AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA acquired a new stake in AvalonBay Communities during the third quarter worth $31,000. Elyxium Wealth LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $32,000. Finally, Headlands Technologies LLC acquired a new stake in AvalonBay Communities during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.
Analysts Set New Price Targets
AVB has been the topic of several research analyst reports. Royal Bank Of Canada upped their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald raised their price target on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Piper Sandler lifted their target price on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Scotiabank boosted their target price on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company lowered their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $195.80.
AvalonBay Communities Stock Down 1.3%
Shares of AVB stock opened at $191.92 on Wednesday. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $205.00. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 3.39 and a beta of 0.77. The firm’s 50-day moving average is $186.49 and its 200-day moving average is $178.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62.
AvalonBay Communities (NYSE:AVB – Get 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 analysts’ consensus estimates of $2.80 by ($0.47). The company had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter in the prior year, the business posted $2.83 EPS. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.28 EPS for the current year.
AvalonBay Communities Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.
AvalonBay Communities 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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