Nykredit A S Acquires New Position in AvalonBay Communities, Inc. $AVB

Nykredit A S bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, Holdings Channel.com reports. The firm bought 57,395 shares of the real estate investment trust’s stock, valued at approximately $10,830,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in AvalonBay Communities during the 2nd quarter valued at $3,368,659,000. Auto Owners Insurance Co grew its holdings in AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares in the last quarter. Norges Bank bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at about $1,394,635,000. Legal & General Group Plc bought a new position in shares of AvalonBay Communities in the second quarter valued at approximately $366,672,000. Finally, Bank of America Corp DE purchased a new position in AvalonBay Communities during the second quarter valued at approximately $358,275,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AVB opened at $184.06 on Friday. The firm has a market cap of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The stock has a 50 day simple moving average of $187.99 and a two-hundred day simple moving average of $181.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $198.63.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.12). The business had revenue of $777.77 million for the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period last year, the business posted $2.82 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s payout ratio is currently 116.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVB shares. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Truist Financial boosted their target price on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Barclays upped their target price on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of AvalonBay Communities in a report on Wednesday, August 19th. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $196.87.

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.