Healthcare of Ontario Pension Plan Trust Fund Raises Stock Holdings in AvalonBay Communities, Inc. $AVB

Healthcare of Ontario Pension Plan Trust Fund increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 22.1% in the 1st quarter, HoldingsChannel reports. The fund owned 18,300 shares of the real estate investment trust’s stock after buying an additional 3,310 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AvalonBay Communities were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Trust LLC raised its stake in 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 purchasing an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in AvalonBay Communities by 1.8% during 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 purchasing an additional 60 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 62 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its holdings in shares of AvalonBay Communities by 1.4% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock worth $1,090,000 after purchasing an additional 90 shares during the period. Finally, Phoenix Financial Ltd. boosted its stake 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 worth $311,000 after buying an additional 92 shares during the period. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial boosted their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research report on Monday, June 1st. Scotiabank raised their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. UBS Group cut their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Finally, Wells Fargo & Company decreased their price target on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $196.80.

AvalonBay Communities Trading Down 2.4%

Shares of AVB opened at $187.82 on Friday. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $198.63. The stock has a market cap of $26.68 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 3.35 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $187.85 and its two-hundred day moving average is $179.65.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The business had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. During the same period last year, the business earned $2.82 earnings per share. Research analysts forecast that AvalonBay Communities, Inc. will post 11.29 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. AvalonBay Communities’s dividend payout ratio is currently 116.34%.

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.