Swiss National Bank Sells 20,700 Shares of AvalonBay Communities, Inc. $AVB

Swiss National Bank lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 410,321 shares of the real estate investment trust’s stock after selling 20,700 shares during the quarter. Swiss National Bank owned about 0.29% of AvalonBay Communities worth $79,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AVB. Mather Group LLC. purchased a new stake in AvalonBay Communities in the third quarter worth $30,000. Clearstead Trust LLC grew its position 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 buying an additional 62 shares during the period. AlphaQuest LLC bought a new position in shares of AvalonBay Communities in the 3rd quarter worth about $33,000. Headlands Technologies LLC purchased a new position in AvalonBay Communities during the 2nd quarter valued at about $36,000. Finally, Atlantic Union Bankshares Corp bought a new stake in AvalonBay Communities during the second quarter worth about $59,000. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of a number of recent research reports. UBS Group lowered their price objective on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Barclays decreased their target price on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, March 6th. Citigroup dropped their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Royal Bank Of Canada reduced their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research report on Friday, February 6th. Finally, Piper Sandler decreased their price objective on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research report 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $199.66.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $174.33 on Wednesday. The stock has a fifty day simple moving average of $177.89 and a two-hundred day simple moving average of $182.52. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $217.35. The stock has a market capitalization of $24.42 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 3.10 and a beta of 0.75. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The business had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. During the same period in the previous year, the company posted $2.80 earnings per share. On average, analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given 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 4.1%. 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

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.