AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Lowered by State Street Corp

State Street Corp lessened its position in AvalonBay Communities, Inc. (NYSE:AVB) by 6.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,468,970 shares of the real estate investment trust’s stock after selling 543,326 shares during the period. State Street Corp owned approximately 6.07% of AvalonBay Communities worth $1,277,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank raised its stake in shares of AvalonBay Communities by 3.6% in the 3rd quarter. First Hawaiian Bank now owns 2,118 shares of the real estate investment trust’s stock worth $316,000 after buying an additional 73 shares in the last quarter. World Asset Management Inc raised its stake in shares of AvalonBay Communities by 1.6% in the 3rd quarter. World Asset Management Inc now owns 4,814 shares of the real estate investment trust’s stock worth $719,000 after buying an additional 78 shares in the last quarter. Camden National Bank raised its stake in shares of AvalonBay Communities by 0.4% in the 3rd quarter. Camden National Bank now owns 20,952 shares of the real estate investment trust’s stock worth $3,129,000 after buying an additional 80 shares in the last quarter. BBVA USA Bancshares Inc. raised its stake in shares of AvalonBay Communities by 3.7% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 2,930 shares of the real estate investment trust’s stock worth $447,000 after buying an additional 105 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of AvalonBay Communities by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 3,855 shares of the real estate investment trust’s stock worth $576,000 after buying an additional 109 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors.

Shares of AVB stock opened at $171.90 on Friday. AvalonBay Communities, Inc. has a 1-year low of $118.17 and a 1-year high of $229.40. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 36.97 and a beta of 0.88. The stock’s fifty day simple moving average is $154.05 and its 200-day simple moving average is $155.05.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, November 2nd. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($1.11). AvalonBay Communities had a net margin of 27.97% and a return on equity of 6.02%. During the same period in the previous year, the company posted $2.00 earnings per share. On average, sell-side analysts predict that AvalonBay Communities, Inc. will post 8.86 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.01 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 68.09%.

A number of equities research analysts have recently issued reports on the company. BTIG Research boosted their target price on AvalonBay Communities from $184.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 12th. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating and set a $165.00 target price on the stock in a research report on Tuesday, August 25th. Truist cut their target price on AvalonBay Communities from $189.00 to $183.00 in a research report on Thursday, August 20th. Wells Fargo & Company assumed coverage on AvalonBay Communities in a research report on Tuesday, October 20th. They set an “equal weight” rating and a $160.00 target price on the stock. Finally, UBS Group assumed coverage on AvalonBay Communities in a research report on Friday, October 16th. They set a “neutral” rating and a $165.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $177.47.

About AvalonBay Communities

As of June 30, 2020, the Company owned or held a direct or indirect ownership interest in 295 apartment communities containing 86,380 apartment homes in 11 states and the District of Columbia, of which 19 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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