Russell Investments Group Ltd. Has $47.44 Million Stock Holdings in AvalonBay Communities, Inc. $AVB

Russell Investments Group Ltd. boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,489 shares of the real estate investment trust’s stock after purchasing an additional 22,475 shares during the period. Russell Investments Group Ltd. owned about 0.17% of AvalonBay Communities worth $47,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of AvalonBay Communities during the third quarter worth $30,000. Clearstead Trust LLC boosted its holdings in shares of AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. AlphaQuest LLC bought a new stake in AvalonBay Communities during the 3rd quarter worth $33,000. Headlands Technologies LLC bought a new stake in AvalonBay Communities during the 2nd quarter worth $36,000. Finally, McIlrath & Eck LLC acquired a new position in AvalonBay Communities in the 2nd quarter worth about $59,000. Institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on AVB shares. Barclays dropped their target price on AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research report on Friday, March 6th. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Truist Financial cut their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Piper Sandler reduced their target price on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $199.66.

AvalonBay Communities Trading Down 1.6%

NYSE:AVB opened at $171.74 on Thursday. AvalonBay Communities, Inc. has a 52 week low of $166.73 and a 52 week high of $217.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s fifty day moving average is $177.70 and its 200-day moving average is $182.45. The firm has a market cap of $24.06 billion, a P/E ratio of 20.97, a P/E/G ratio of 3.06 and a beta of 0.75.

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

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s dividend payout ratio (DPR) is presently 86.94%.

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.