PGGM Investments Acquires 30,308 Shares of AvalonBay Communities, Inc. $AVB

PGGM Investments increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 509,274 shares of the real estate investment trust’s stock after acquiring an additional 30,308 shares during the period. AvalonBay Communities comprises about 1.6% of PGGM Investments’ investment portfolio, making the stock its 25th biggest position. PGGM Investments owned 0.36% of AvalonBay Communities worth $98,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVB. Metis Global Partners LLC boosted its holdings in shares of AvalonBay Communities by 13.8% in the 2nd quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock worth $7,525,000 after acquiring an additional 4,473 shares in the last quarter. FORA Capital LLC increased its holdings in AvalonBay Communities by 78.7% during the 2nd quarter. FORA Capital LLC now owns 15,702 shares of the real estate investment trust’s stock valued at $3,195,000 after purchasing an additional 6,916 shares in the last quarter. Amundi raised its position in AvalonBay Communities by 17.7% in the 2nd quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock valued at $90,768,000 after purchasing an additional 67,695 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in AvalonBay Communities by 1.5% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 723,402 shares of the real estate investment trust’s stock valued at $147,212,000 after purchasing an additional 10,929 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in AvalonBay Communities by 5.2% in the second quarter. American Century Companies Inc. now owns 269,301 shares of the real estate investment trust’s stock worth $54,803,000 after purchasing an additional 13,400 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $180.74 on Friday. The company has a market cap of $25.59 billion, a PE ratio of 22.07, a PEG ratio of 3.06 and a beta of 0.75. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year high of $230.21. The company’s 50-day moving average is $179.83 and its two-hundred day moving average is $187.75.

AvalonBay Communities (NYSE:AVB) last posted its quarterly 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 9.72% and a net margin of 38.78%.The business had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. During the same period last year, the firm earned $2.74 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AVB shares. Wells Fargo & Company lowered their target price on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Scotiabank reduced their price target on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Mizuho decreased their price objective on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Truist Financial dropped their target price on shares of AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Finally, Piper Sandler reduced their target price on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $205.89.

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.