AvalonBay Communities, Inc. $AVB Holdings Reduced by Avalon Trust Co

Avalon Trust Co lowered its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,652 shares of the real estate investment trust’s stock after selling 1,003 shares during the period. AvalonBay Communities makes up 1.0% of Avalon Trust Co’s holdings, making the stock its 27th largest position. Avalon Trust Co’s holdings in AvalonBay Communities were worth $13,971,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVB. Sound Income Strategies LLC lifted its holdings in shares of AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 81 shares during the period. Keystone Global Partners LLC acquired a new stake in AvalonBay Communities during the first quarter valued at $45,000. Zions Bancorporation National Association UT bought a new position in AvalonBay Communities during the first quarter valued at approximately $50,000. Capital Analysts LLC boosted its holdings in AvalonBay Communities by 48.5% in the first quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 80 shares in the last quarter. Finally, Hilltop National Bank bought a new position in shares of AvalonBay Communities in the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.4%

Shares of NYSE:AVB opened at $178.06 on Thursday. The stock has a market capitalization of $25.21 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.54 and a beta of 0.84. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $239.29. The company’s 50-day moving average price is $187.33 and its two-hundred day moving average price is $195.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.The company had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. During the same quarter in the prior year, the company earned $2.74 EPS. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. AvalonBay Communities’s payout ratio is 85.47%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVB. Evercore ISI reaffirmed an “in-line” rating and issued a $214.00 price target on shares of AvalonBay Communities in a research report on Monday, November 3rd. Truist Financial raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and cut their price target for the company from $224.00 to $218.00 in a report on Thursday, September 11th. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $228.00 to $225.00 in a report on Wednesday, August 13th. Scotiabank dropped their target price on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Finally, Piper Sandler dropped their target price on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $209.54.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.