Ferguson Wellman Capital Management Inc. Has $46.71 Million Position in AvalonBay Communities, Inc. $AVB

Ferguson Wellman Capital Management Inc. decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,561 shares of the real estate investment trust’s stock after selling 2,993 shares during the period. Ferguson Wellman Capital Management Inc. owned about 0.17% of AvalonBay Communities worth $46,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in AvalonBay Communities during the second quarter worth $3,368,659,000. Auto Owners Insurance Co boosted its holdings in shares of AvalonBay Communities by 18,031.0% in the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after purchasing an additional 11,720,150 shares in the last quarter. Norges Bank bought a new position in shares of AvalonBay Communities in the 4th quarter valued at $1,394,635,000. Legal & General Group Plc bought a new position in shares of AvalonBay Communities in the 2nd quarter valued at $366,672,000. Finally, Bank of America Corp DE acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth $358,275,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.06 on Friday. The firm has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $188.02 and its 200 day simple moving average is $180.77.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period in the previous year, the company earned $2.82 EPS. As a group, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research report on Wednesday, July 22nd. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research note on Monday, June 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 19th. UBS Group dropped their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, Piper Sandler lifted their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $196.87.

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.