Thrivent Financial for Lutherans Boosts Stock Position in AvalonBay Communities, Inc. $AVB

Thrivent Financial for Lutherans increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,153 shares of the real estate investment trust’s stock after acquiring an additional 6,511 shares during the period. Thrivent Financial for Lutherans owned about 0.15% of AvalonBay Communities worth $41,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Metis Global Partners LLC grew its stake in shares of AvalonBay Communities by 13.8% during the second quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock worth $7,525,000 after purchasing an additional 4,473 shares in the last quarter. FORA Capital LLC boosted its position in shares of AvalonBay Communities by 78.7% during the 2nd quarter. FORA Capital LLC now owns 15,702 shares of the real estate investment trust’s stock worth $3,195,000 after acquiring an additional 6,916 shares in the last quarter. Amundi increased its holdings in shares of AvalonBay Communities by 17.7% in the 2nd quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock valued at $90,768,000 after acquiring an additional 67,695 shares during the last quarter. Allstate Corp raised its position in shares of AvalonBay Communities by 250.5% during the 3rd quarter. Allstate Corp now owns 8,152 shares of the real estate investment trust’s stock worth $1,575,000 after acquiring an additional 5,826 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in AvalonBay Communities by 11.3% during the third quarter. Nordea Investment Management AB now owns 426,870 shares of the real estate investment trust’s stock worth $81,507,000 after purchasing an additional 43,252 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 1.4%

Shares of NYSE:AVB opened at $175.20 on Tuesday. AvalonBay Communities, Inc. has a 1-year low of $166.73 and a 1-year high of $230.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $24.81 billion, a P/E ratio of 21.39, a P/E/G ratio of 3.04 and a beta of 0.75. The firm has a fifty day moving average price of $179.74 and a 200 day moving average price of $185.46.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 4.0%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 85.47%.

Analysts Set New Price Targets

Several equities analysts have commented on AVB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Mizuho dropped their target price on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Colliers Securities reissued a “neutral” rating and issued a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Barclays upped their price objective on shares of AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Finally, Truist Financial cut their target price on AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Six 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 company currently has a consensus rating of “Hold” and an average price target of $203.50.

About AvalonBay Communities

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.