Swiss National Bank Buys 25,400 Shares of AvalonBay Communities, Inc. $AVB

Swiss National Bank grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,521 shares of the real estate investment trust’s stock after buying an additional 25,400 shares during the quarter. Swiss National Bank’s holdings in AvalonBay Communities were worth $67,875,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVB. Clearstead Trust LLC lifted its position in shares of AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in AvalonBay Communities by 1.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 60 shares during the period. Keybank National Association OH raised its stake in AvalonBay Communities by 2.6% during the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 62 shares during the period. Arbor Capital Management Inc. ADV lifted its holdings in AvalonBay Communities by 1.4% during 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 purchasing an additional 90 shares in the last quarter. Finally, Phoenix Financial Ltd. lifted its holdings in AvalonBay Communities by 5.7% during the fourth quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVB. Truist Financial increased their price objective on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research note on Monday, June 1st. Piper Sandler upped their target price on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company cut their price target on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, Barclays reissued an “equal weight” rating and set a $205.00 price target (up from $203.00) on shares of AvalonBay Communities in a report on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $196.80.

AvalonBay Communities Trading Down 0.6%

Shares of AVB opened at $190.71 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $204.68. The company has a 50 day simple moving average of $187.09 and a two-hundred day simple moving average of $179.23. The firm has a market cap of $27.09 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same period last year, the firm posted $2.83 EPS. On average, equities analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a 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.