Russell Investments Group Ltd. Has $47.44 Million Holdings in AvalonBay Communities, Inc. $AVB

Russell Investments Group Ltd. grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 245,489 shares of the real estate investment trust’s stock after buying an additional 22,475 shares during the period. Russell Investments Group Ltd.’s holdings in AvalonBay Communities were worth $47,435,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of AvalonBay Communities in the 2nd quarter valued at $1,394,225,000. Invesco Ltd. boosted its stake in AvalonBay Communities by 70.2% during the second quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock worth $527,823,000 after acquiring an additional 1,069,793 shares in the last quarter. Bank of America Corp DE boosted its stake in AvalonBay Communities by 77.1% during the second quarter. Bank of America Corp DE now owns 1,338,552 shares of the real estate investment trust’s stock worth $272,395,000 after acquiring an additional 582,724 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AvalonBay Communities by 23.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock worth $573,091,000 after purchasing an additional 530,274 shares during the period. Finally, Bahl & Gaynor Inc. increased its stake in AvalonBay Communities by 126.5% in the third quarter. Bahl & Gaynor Inc. now owns 555,832 shares of the real estate investment trust’s stock valued at $107,370,000 after purchasing an additional 310,412 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.6%

AVB stock opened at $171.74 on Thursday. The firm has a market capitalization of $24.06 billion, a PE ratio of 20.97, a P/E/G ratio of 3.06 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $217.32. The stock’s 50 day moving average is $177.70 and its 200-day moving average is $182.45.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.01. The business had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same quarter in the prior year, the company posted $2.80 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s dividend payout ratio (DPR) is currently 86.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVB. Royal Bank Of Canada dropped their price objective on shares of AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. Morgan Stanley dropped their price target on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Scotiabank reduced their price objective on AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a report on Tuesday, January 20th. Finally, Piper Sandler lowered their target price on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $199.66.

AvalonBay Communities Company 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.