KBC Group NV Sells 2,379 Shares of AvalonBay Communities, Inc. $AVB

KBC Group NV trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,042 shares of the real estate investment trust’s stock after selling 2,379 shares during the quarter. KBC Group NV’s holdings in AvalonBay Communities were worth $11,404,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Perpetual Ltd boosted its holdings in shares of AvalonBay Communities by 0.5% in the 2nd quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after purchasing an additional 50 shares in the last quarter. CX Institutional lifted its position in shares of AvalonBay Communities by 6.3% during the 2nd quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 58 shares during the last quarter. Probity Advisors Inc. boosted its stake in AvalonBay Communities by 2.7% in the second quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 60 shares in the last quarter. Benjamin Edwards Inc. grew its position in AvalonBay Communities by 1.0% in the first quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust’s stock valued at $1,377,000 after acquiring an additional 64 shares during the last quarter. Finally, Roundview Capital LLC raised its stake in AvalonBay Communities by 1.7% during the first quarter. Roundview Capital LLC now owns 3,950 shares of the real estate investment trust’s stock worth $848,000 after acquiring an additional 66 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Mizuho reissued a “neutral” rating and issued a $199.00 price objective (down previously from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Evercore ISI reaffirmed an “in-line” rating and set a $214.00 target price on shares of AvalonBay Communities in a research note on Monday, November 3rd. Scotiabank dropped their price target on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Five research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $209.35.

AvalonBay Communities Price Performance

AVB stock opened at $177.74 on Friday. The company has a market capitalization of $25.17 billion, a P/E ratio of 21.70, a PEG ratio of 2.54 and a beta of 0.84. The company has a fifty day moving average price of $186.66 and a 200-day moving average price of $195.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $239.29.

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

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 dividend yield of 3.9%. The ex-dividend date was Tuesday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 85.47%.

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.