UniSuper Management Pty Ltd Sells 45,505 Shares of AvalonBay Communities, Inc. $AVB

UniSuper Management Pty Ltd reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 36.6% in the third quarter, Holdings Channel reports. The firm owned 78,878 shares of the real estate investment trust’s stock after selling 45,505 shares during the quarter. UniSuper Management Pty Ltd’s holdings in AvalonBay Communities were worth $15,237,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Mather Group LLC. bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $30,000. Clearstead Trust LLC increased its holdings in shares of AvalonBay Communities by 62.0% in the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of AvalonBay Communities in the 2nd quarter worth $36,000. Sound Income Strategies LLC raised its stake in shares of AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 81 shares during the last quarter. Finally, Hilltop National Bank bought a new position in shares of AvalonBay Communities during the second quarter valued at $58,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler dropped their price objective 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. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Finally, Royal Bank Of Canada lowered their price objective on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $203.50.

AvalonBay Communities Trading Up 1.7%

AvalonBay Communities stock opened at $178.76 on Friday. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $230.21. The company has a market cap of $25.31 billion, a P/E ratio of 21.83, a P/E/G ratio of 3.06 and a beta of 0.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $180.04 and a two-hundred day simple moving average of $186.66.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.During the same period in the previous year, the business posted $2.74 EPS. Analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given 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 3.9%. AvalonBay Communities’s payout ratio is presently 85.47%.

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.