AvalonBay Communities, Inc. $AVB Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 67.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,550 shares of the real estate investment trust’s stock after selling 17,674 shares during the period. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $1,740,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVB. Vanguard Group Inc. raised its stake in AvalonBay Communities by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock worth $4,639,876,000 after acquiring an additional 127,693 shares during the last quarter. Norges Bank acquired a new position in shares of AvalonBay Communities in the second quarter valued at about $1,394,225,000. Price T Rowe Associates Inc. MD raised its stake in shares of AvalonBay Communities by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock worth $1,184,712,000 after purchasing an additional 367,853 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AvalonBay Communities by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 3,966,650 shares of the real estate investment trust’s stock worth $807,220,000 after purchasing an additional 152,220 shares during the period. Finally, Geode Capital Management LLC boosted its position in AvalonBay Communities by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock valued at $785,551,000 after buying an additional 57,599 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 0.9%

AVB stock opened at $177.87 on Friday. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $231.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s fifty day moving average is $182.47 and its 200 day moving average is $192.67. The firm has a market cap of $25.19 billion, a PE ratio of 21.72, a P/E/G ratio of 2.96 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.The firm had revenue of $766.80 million for the quarter, compared to analysts’ expectations of $766.22 million. During the same period in the previous year, the company earned $2.74 earnings per share. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $1.75 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s payout ratio is 85.47%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVB. Wells Fargo & Company reduced their price target on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Scotiabank reduced their target price on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Royal Bank Of Canada lowered their price target on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Piper Sandler cut their price target on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $205.89.

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.