Pacer Advisors Inc. Has $2.19 Million Position in AvalonBay Communities, Inc. $AVB

Pacer Advisors Inc. cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 36.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,347 shares of the real estate investment trust’s stock after selling 6,527 shares during the period. Pacer Advisors Inc.’s holdings in AvalonBay Communities were worth $2,192,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Perpetual Ltd increased its position in shares of AvalonBay Communities by 0.5% in the second quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after acquiring an additional 50 shares during the last quarter. CX Institutional grew its stake in AvalonBay Communities by 6.3% in the second quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 58 shares in the last quarter. Probity Advisors Inc. increased its position in shares of AvalonBay Communities by 2.7% during the 2nd quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock worth $456,000 after purchasing an additional 60 shares during the last quarter. Clearstead Trust LLC raised its stake in shares of AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of AvalonBay Communities by 2.5% during the 2nd quarter. Whittier Trust Co. now owns 2,725 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI reissued an “in-line” rating and issued a $214.00 target price on shares of AvalonBay Communities in a research note on Monday, November 3rd. Cantor Fitzgerald initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price objective for the company. Piper Sandler lowered their price objective on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Truist Financial cut 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, Royal Bank Of Canada reduced their price objective on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $205.89.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $185.01 on Wednesday. The firm has a 50 day moving average of $179.87 and a 200-day moving average of $189.61. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $230.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $26.20 billion, a PE ratio of 22.59, a PEG ratio of 3.24 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). The business had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.During the same quarter in the prior year, the company earned $2.74 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.8%. AvalonBay Communities’s dividend payout ratio is 85.47%.

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.