Advisor Group Holdings Inc. reduced its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 6.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,085 shares of the real estate investment trust’s stock after selling 1,196 shares during the period. Advisor Group Holdings Inc.’s holdings in AvalonBay Communities were worth $2,489,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of AvalonBay Communities by 15.0% during the 2nd quarter. Principal Financial Group Inc. now owns 5,556,760 shares of the real estate investment trust’s stock worth $859,298,000 after acquiring an additional 725,486 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AvalonBay Communities by 2.7% during the 1st quarter. Geode Capital Management LLC now owns 2,936,720 shares of the real estate investment trust’s stock worth $431,569,000 after acquiring an additional 78,538 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of AvalonBay Communities by 24.9% during the 1st quarter. Nuveen Asset Management LLC now owns 2,647,610 shares of the real estate investment trust’s stock worth $389,649,000 after acquiring an additional 526,984 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of AvalonBay Communities by 1.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,857,483 shares of the real estate investment trust’s stock worth $287,241,000 after acquiring an additional 33,011 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of AvalonBay Communities by 6.8% during the 1st quarter. Legal & General Group Plc now owns 1,801,793 shares of the real estate investment trust’s stock worth $265,400,000 after acquiring an additional 114,137 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.

Several research firms recently commented on AVB. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating and set a $165.00 price target on the stock in a report on Tuesday, August 25th. Piper Sandler raised their price target on shares of AvalonBay Communities from $140.00 to $145.00 and gave the company an “underweight” rating in a report on Tuesday, May 26th. Morgan Stanley raised their price target on shares of AvalonBay Communities from $143.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. Jefferies Financial Group restated a “buy” rating and issued a $174.00 price target on shares of AvalonBay Communities in a report on Tuesday, August 11th. Finally, Truist cut their price target on shares of AvalonBay Communities from $189.00 to $183.00 in a report on Thursday, August 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $187.60.

AVB stock opened at $152.57 on Wednesday. AvalonBay Communities Inc has a twelve month low of $118.17 and a twelve month high of $229.40. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $21.75 billion, a P/E ratio of 27.24, a PEG ratio of 10.81 and a beta of 0.78. The firm has a 50 day simple moving average of $154.57 and a 200-day simple moving average of $161.07.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.04). AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.32%. The company had revenue of $576.41 million for the quarter, compared to analyst estimates of $587.58 million. During the same period in the previous year, the business posted $2.27 EPS. On average, research analysts predict that AvalonBay Communities Inc will post 9.05 EPS for the current year.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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