AvalonBay Communities, Inc. $AVB Position Boosted by Saudi Central Bank

Saudi Central Bank lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 86.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,738 shares of the real estate investment trust’s stock after purchasing an additional 4,512 shares during the period. Saudi Central Bank’s holdings in AvalonBay Communities were worth $1,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Clearstead Trust LLC lifted its stake 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 valued at $25,000 after purchasing an additional 56 shares during the last quarter. Red Spruce Capital LLC grew its position in AvalonBay Communities by 0.8% in the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after buying an additional 60 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after buying an additional 60 shares in the last quarter. Arbor Capital Management Inc. ADV increased its holdings in shares of AvalonBay Communities by 1.4% in the first quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock valued at $1,090,000 after buying an additional 90 shares in the last quarter. Finally, Phoenix Financial Ltd. lifted its position in shares of AvalonBay Communities by 5.7% during the 4th quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after acquiring an additional 92 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on AVB. Barclays raised their price objective 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. UBS Group reduced their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Wolfe Research upgraded 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. Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald restated 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $196.87.

AvalonBay Communities Stock Performance

NYSE AVB opened at $184.06 on Wednesday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The firm’s 50 day moving average price is $187.73 and its two-hundred day moving average price is $181.16.

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

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.