AvalonBay Communities, Inc. $AVB Stake Trimmed by Shell Asset Management Co.

Shell Asset Management Co. cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 42.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,127 shares of the real estate investment trust’s stock after selling 5,924 shares during the period. Shell Asset Management Co.’s holdings in AvalonBay Communities were worth $1,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $30,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 62 shares during the period. AlphaQuest LLC acquired a new stake in AvalonBay Communities during the 3rd quarter worth about $33,000. Headlands Technologies LLC purchased a new position in AvalonBay Communities during the 2nd quarter valued at about $36,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of AvalonBay Communities in the 2nd quarter valued at about $59,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AVB shares. Morgan Stanley dropped their price target on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Piper Sandler dropped their price target on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. Finally, Truist Financial cut their price target on shares of AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $200.91.

AvalonBay Communities Price Performance

NYSE AVB opened at $176.11 on Monday. The company has a market cap of $24.94 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.10 and a beta of 0.76. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year 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 0.79. The company has a fifty day simple moving average of $178.74 and a 200 day simple moving average of $183.79.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. The firm had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same quarter in the previous year, the business earned $2.80 EPS. On average, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $1.78 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. AvalonBay Communities’s payout ratio is 94.85%.

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.