Ensign Peak Advisors Inc Has $20.73 Million Position in AvalonBay Communities, Inc. $AVB

Ensign Peak Advisors Inc lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,871 shares of the real estate investment trust’s stock after selling 15,998 shares during the period. Ensign Peak Advisors Inc owned approximately 0.07% of AvalonBay Communities worth $20,731,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in AvalonBay Communities by 0.6% in the second quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock valued at $4,639,876,000 after buying an additional 127,693 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in AvalonBay Communities by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock valued at $1,184,712,000 after acquiring an additional 367,853 shares in the last quarter. Geode Capital Management LLC lifted its position in AvalonBay Communities by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock valued at $785,551,000 after acquiring an additional 57,599 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AvalonBay Communities by 3.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust’s stock worth $818,653,000 after purchasing an additional 143,646 shares during the period. Finally, Northern Trust Corp increased its holdings in AvalonBay Communities by 5.2% during the 1st quarter. Northern Trust Corp now owns 2,779,484 shares of the real estate investment trust’s stock worth $596,533,000 after purchasing an additional 136,741 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and cut their price target for the company from $224.00 to $218.00 in a report on Thursday, September 11th. Piper Sandler reduced their price target on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Scotiabank decreased their price target on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Wells Fargo & Company lowered their price objective on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Finally, UBS Group reduced their target price on shares of AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $209.35.

AvalonBay Communities Trading Up 1.9%

Shares of AvalonBay Communities stock opened at $180.40 on Friday. The stock has a market cap of $25.54 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.54 and a beta of 0.84. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 12-month low of $166.73 and a 12-month high of $239.29. The business’s 50 day moving average is $184.96 and its 200-day moving average is $194.45.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.The firm had revenue of $766.80 million for the quarter, compared to analyst estimates of $766.22 million. During the same quarter in the previous year, the firm posted $2.74 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 85.47%.

About AvalonBay Communities

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.