AvalonBay Communities, Inc. $AVB Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 21.7% during the third quarter, Holdings Channel reports. The fund owned 15,831 shares of the real estate investment trust’s stock after selling 4,389 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in AvalonBay Communities were worth $3,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVB. Vanguard Group Inc. increased its holdings in AvalonBay Communities by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock worth $4,639,876,000 after purchasing an additional 127,693 shares during the period. State Street Corp grew its position in shares of AvalonBay Communities by 2.0% during the second quarter. State Street Corp now owns 9,445,499 shares of the real estate investment trust’s stock worth $1,938,326,000 after buying an additional 182,952 shares in the last quarter. Norges Bank purchased a new stake in shares of AvalonBay Communities during the second quarter worth approximately $1,394,225,000. JPMorgan Chase & Co. raised its holdings in AvalonBay Communities by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 3,966,650 shares of the real estate investment trust’s stock valued at $807,220,000 after acquiring an additional 152,220 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in AvalonBay Communities by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock worth $785,551,000 after acquiring an additional 57,599 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Up 1.6%

AVB opened at $177.63 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities, Inc. has a 52 week low of $166.73 and a 52 week high of $230.21. The business’s 50 day moving average is $179.84 and its two-hundred day moving average is $185.86. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.99 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million for the quarter, compared to analysts’ expectations 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 last year, the business posted $2.74 earnings per share. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 85.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI reissued an “in-line” rating and issued a $214.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 3rd. Colliers Securities restated a “neutral” rating and issued a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a research note on Thursday, December 4th. Truist Financial decreased their price target on AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Royal Bank Of Canada dropped their price objective on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Finally, Piper Sandler decreased their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $203.50.

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.