AvalonBay Communities, Inc. $AVB Shares Bought by National Pension Service

National Pension Service grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 20.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 274,838 shares of the real estate investment trust’s stock after buying an additional 46,683 shares during the period. National Pension Service’s holdings in AvalonBay Communities were worth $49,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in AvalonBay Communities by 21.0% during the 3rd quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock worth $8,646,000 after purchasing an additional 7,780 shares during the period. Pensionfund PDN acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $3,648,000. Sun Life Financial Inc. increased its position in AvalonBay Communities by 5.7% during the 3rd quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock worth $31,117,000 after purchasing an additional 8,660 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of AvalonBay Communities by 3.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock worth $41,754,000 after acquiring an additional 6,511 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock worth $80,449,000 after acquiring an additional 17,352 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB stock opened at $182.68 on Monday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $209.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s 50 day moving average price is $175.35 and its 200 day moving average price is $177.10. The firm has a market cap of $25.41 billion, a P/E ratio of 26.48, a PEG ratio of 3.17 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same period in the previous year, the company posted $2.83 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVB. Truist Financial lowered their price target on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Barclays lowered their price target on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Royal Bank Of Canada upped their price target on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Scotiabank lowered their price target on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a report on Thursday, May 14th. Finally, Piper Sandler upped their price target on AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $197.73.

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.