Nuveen Asset Management LLC Has $343.66 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Nuveen Asset Management LLC lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,562,294 shares of the real estate investment trust’s stock after selling 45,658 shares during the quarter. Nuveen Asset Management LLC owned about 1.10% of AvalonBay Communities worth $343,658,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of AvalonBay Communities by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after buying an additional 55,588 shares during the last quarter. Czech National Bank boosted its stake in AvalonBay Communities by 6.5% during the 4th quarter. Czech National Bank now owns 30,800 shares of the real estate investment trust’s stock valued at $6,775,000 after purchasing an additional 1,868 shares during the last quarter. Wedmont Private Capital boosted its stake in AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 55 shares during the last quarter. USA Financial Formulas acquired a new position in AvalonBay Communities during the 4th quarter valued at about $1,093,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $7,978,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVB. Piper Sandler cut their target price on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. BMO Capital Markets cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a report on Friday, April 4th. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Barclays boosted their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Finally, Scotiabank boosted their target price on AvalonBay Communities from $241.00 to $251.00 and gave the stock a “sector perform” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $239.57.

AvalonBay Communities Price Performance

AVB opened at $201.45 on Thursday. The company has a market capitalization of $28.68 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 3.11 and a beta of 0.86. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $206.05 and a 200-day moving average price of $217.09. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analysts’ expectations of $744.61 million. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. During the same period in the prior year, the company posted $2.70 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.