TD Asset Management Inc Has $21.29 Million Stock Position in AvalonBay Communities, Inc. $AVB

TD Asset Management Inc lifted its position in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 11.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 110,195 shares of the real estate investment trust’s stock after buying an additional 10,899 shares during the quarter. TD Asset Management Inc’s holdings in AvalonBay Communities were worth $21,286,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AvalonBay Communities by 0.6% during the second quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock worth $4,639,876,000 after buying an additional 127,693 shares during the last quarter. State Street Corp boosted its stake in shares of AvalonBay Communities by 2.0% during the 2nd quarter. State Street Corp now owns 9,445,499 shares of the real estate investment trust’s stock worth $1,938,326,000 after acquiring an additional 182,952 shares in the last quarter. Norges Bank acquired a new position in shares of AvalonBay Communities during the 2nd quarter valued at about $1,394,225,000. JPMorgan Chase & Co. raised its stake in shares of AvalonBay Communities by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock valued at $814,376,000 after acquiring an additional 249,171 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in AvalonBay Communities by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock worth $785,551,000 after purchasing an additional 57,599 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AVB shares. UBS Group dropped their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered shares of 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. Barclays boosted their target price on shares of AvalonBay Communities from $216.00 to $217.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Morgan Stanley lowered their price target on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Finally, Piper Sandler dropped their price objective on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $200.91.

View Our Latest Analysis on AVB

AvalonBay Communities News Roundup

Here are the key news stories impacting AvalonBay Communities this week:

AvalonBay Communities Trading Down 1.4%

AVB stock opened at $177.18 on Friday. AvalonBay Communities, Inc. has a 1-year low of $166.73 and a 1-year 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. The business’s 50 day moving average is $178.69 and its 200-day moving average is $183.22. The firm has a market cap of $25.09 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.11 and a beta of 0.76.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The business had revenue of $767.86 million for the quarter, compared to analyst estimates of $766.38 million. During the same quarter in the previous year, the firm earned $2.80 EPS. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 annualized dividend and a yield of 4.0%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s payout ratio is 85.47%.

AvalonBay Communities Profile

(Free Report)

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.

Further Reading

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

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