Lasalle Investment Management Securities LLC Has $56.32 Million Stock Position in AvalonBay Communities, Inc. $AVB

Lasalle Investment Management Securities LLC raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 344,766 shares of the real estate investment trust’s stock after acquiring an additional 11,888 shares during the quarter. AvalonBay Communities makes up approximately 2.2% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 18th biggest position. Lasalle Investment Management Securities LLC’s holdings in AvalonBay Communities were worth $56,318,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AVB. Reflection Asset Management bought a new stake in shares of AvalonBay Communities in the fourth quarter worth $25,000. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. Zions Bancorporation National Association UT boosted its holdings in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA bought a new position in AvalonBay Communities in the third quarter valued at $31,000. Finally, Elyxium Wealth LLC bought a new position in AvalonBay Communities in the fourth quarter valued at $32,000. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on AVB. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research report on Monday, July 6th. Piper Sandler raised their price objective on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays reaffirmed an “equal weight” rating and issued a $205.00 target price (up from $203.00) on shares of AvalonBay Communities in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their target price on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Finally, Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target for the company in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $196.80.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $190.27 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $204.68. The stock has a 50 day moving average of $187.17 and a 200-day moving average of $179.29. The company has a market capitalization of $27.03 billion, a P/E ratio of 27.58, a P/E/G ratio of 3.32 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $1.63. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The business had revenue of $712.17 million for the quarter, compared to analyst estimates of $772.37 million. During the same period in the previous year, the firm earned $2.82 EPS. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.28 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s payout ratio is currently 103.19%.

AvalonBay Communities 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.