State Street Corp Has $1.94 Billion Stock Holdings in AvalonBay Communities, Inc. $AVB

State Street Corp raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,445,499 shares of the real estate investment trust’s stock after buying an additional 182,952 shares during the period. State Street Corp owned 6.63% of AvalonBay Communities worth $1,938,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ossiam grew its position in AvalonBay Communities by 95.6% during the 2nd quarter. Ossiam now owns 10,293 shares of the real estate investment trust’s stock worth $2,095,000 after acquiring an additional 5,032 shares during the last quarter. Bank of Nova Scotia raised its position in AvalonBay Communities by 9.5% during the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after purchasing an additional 1,629 shares during the last quarter. Cresset Asset Management LLC lifted its stake in shares of AvalonBay Communities by 14.2% in the second quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 360 shares during the period. Amundi increased its position in AvalonBay Communities by 17.7% during the 2nd quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock valued at $90,768,000 after purchasing an additional 67,695 shares during the period. Finally, SCS Capital Management LLC raised its holdings in AvalonBay Communities by 7.0% during the 2nd quarter. SCS Capital Management LLC now owns 19,486 shares of the real estate investment trust’s stock worth $3,967,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the topic of a number of analyst reports. Mizuho reduced their price objective on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Piper Sandler cut their price target on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. BNP Paribas Exane lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Finally, BNP Paribas downgraded AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.89.

AvalonBay Communities Trading Up 0.7%

NYSE:AVB opened at $176.54 on Thursday. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $231.21. 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 $25.00 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.89 and a beta of 0.74. The firm has a fifty day simple moving average of $181.49 and a two-hundred day simple moving average of $192.07.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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 company 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 period last year, the company earned $2.74 EPS. Analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

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 issued a $1.75 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 4.0%. AvalonBay Communities’s dividend payout ratio is presently 85.47%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.