AvalonBay Communities, Inc. $AVB Shares Bought by PGGM Investments

PGGM Investments raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 53.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 781,956 shares of the real estate investment trust’s stock after acquiring an additional 272,682 shares during the quarter. AvalonBay Communities accounts for about 2.2% of PGGM Investments’ investment portfolio, making the stock its 13th largest holding. PGGM Investments’ holdings in AvalonBay Communities were worth $141,776,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Metis Global Partners LLC grew its position in AvalonBay Communities by 21.0% in the third quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock valued at $8,646,000 after acquiring an additional 7,780 shares in the last quarter. Pensionfund PDN acquired a new stake in AvalonBay Communities in the fourth quarter valued at approximately $3,648,000. Thrivent Financial for Lutherans grew its position in AvalonBay Communities by 3.1% in the third quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock valued at $41,754,000 after acquiring an additional 6,511 shares in the last quarter. Sun Life Financial Inc. grew its position in AvalonBay Communities by 5.7% in the third quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock valued at $31,117,000 after acquiring an additional 8,660 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in AvalonBay Communities by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock valued at $80,449,000 after acquiring an additional 17,352 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVB. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Barclays lowered their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. Cantor Fitzgerald raised their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, UBS Group decreased their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $196.93.

AvalonBay Communities Stock Up 0.0%

AVB stock opened at $185.72 on Tuesday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $209.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $25.84 billion, a P/E ratio of 26.92, a PEG ratio of 3.23 and a beta of 0.79. The firm has a 50 day simple moving average of $174.06 and a 200-day simple moving average of $176.88.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. During the same period in the previous year, the business posted $2.83 EPS. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.3 earnings per share for the current fiscal year.

About AvalonBay Communities

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.