Aberdeen Group plc Decreases Stake in AvalonBay Communities, Inc. $AVB

Aberdeen Group plc lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 343,694 shares of the real estate investment trust’s stock after selling 40,150 shares during the quarter. Aberdeen Group plc owned 0.24% of AvalonBay Communities worth $65,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVB. Mather Group LLC. purchased a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $30,000. Clearstead Trust LLC increased its holdings in AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 62 shares during the last quarter. AlphaQuest LLC purchased a new stake in AvalonBay Communities during the third quarter worth about $33,000. Headlands Technologies LLC bought a new stake in AvalonBay Communities in the second quarter worth about $36,000. Finally, Atlantic Union Bankshares Corp purchased a new position in AvalonBay Communities in the second quarter valued at about $59,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $176.11 on Monday. The company has a 50 day moving average of $178.74 and a 200 day moving average of $183.79. The stock has a market cap of $24.94 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.10 and a beta of 0.76. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $230.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.01. The company had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same quarter last year, the company earned $2.80 earnings per share. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. AvalonBay Communities’s dividend payout ratio is 94.85%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AVB shares. Colliers Securities restated a “neutral” rating and set a $195.00 price target (down previously from $200.00) on shares of AvalonBay Communities in a research note on Thursday, December 4th. Evercore reissued an “in-line” rating and issued a $214.00 target price on shares of AvalonBay Communities in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a research note on Tuesday, January 20th. Citigroup dropped their price target on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald lifted their price objective on AvalonBay Communities from $179.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $200.91.

AvalonBay Communities Company 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.