Victory Capital Management Inc. Has $18.93 Million Stock Holdings in AvalonBay Communities, Inc. $AVB

Victory Capital Management Inc. decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,978 shares of the real estate investment trust’s stock after selling 3,462 shares during the period. Victory Capital Management Inc.’s holdings in AvalonBay Communities were worth $18,926,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVB. Norges Bank acquired a new position in shares of AvalonBay Communities during the second quarter worth approximately $1,394,225,000. Invesco Ltd. grew its position in AvalonBay Communities by 70.2% in the 2nd quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock valued at $527,823,000 after purchasing an additional 1,069,793 shares during the period. Bank of America Corp DE increased its stake in AvalonBay Communities by 77.1% during the 2nd quarter. Bank of America Corp DE now owns 1,338,552 shares of the real estate investment trust’s stock valued at $272,395,000 after purchasing an additional 582,724 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AvalonBay Communities by 23.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock worth $573,091,000 after buying an additional 530,274 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in shares of AvalonBay Communities by 126.5% in the third quarter. Bahl & Gaynor Inc. now owns 555,832 shares of the real estate investment trust’s stock valued at $107,370,000 after buying an additional 310,412 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB opened at $174.33 on Wednesday. The stock has a 50 day moving average of $177.89 and a 200 day moving average of $182.52. The company has a market capitalization of $24.42 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 3.10 and a beta of 0.75. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $217.35. 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 quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The firm had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same quarter in the prior year, the company earned $2.80 EPS. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed 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. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. AvalonBay Communities’s dividend payout ratio is 85.47%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVB shares. UBS Group reduced their price objective on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Royal Bank Of Canada cut their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Citigroup decreased their price objective on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Piper Sandler dropped their target price on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. Finally, Truist Financial cut their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $199.66.

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.