SEB Asset Management AB Acquires Shares of 57,477 AvalonBay Communities, Inc. $AVB

SEB Asset Management AB bought a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the first quarter, Holdings Channel.com reports. The institutional investor bought 57,477 shares of the real estate investment trust’s stock, valued at approximately $9,389,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Reflection Asset Management purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $25,000. Clearstead Trust LLC lifted its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Zions Bancorporation National Association UT boosted its stake in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the last quarter. BOKF NA acquired a new position in AvalonBay Communities during the third quarter worth $31,000. Finally, Headlands Technologies LLC purchased a new stake in AvalonBay Communities in the 2nd quarter valued at $36,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVB. Cantor Fitzgerald raised their target price on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a research report on Monday, June 1st. UBS Group dropped their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Barclays restated an “equal weight” rating and set a $205.00 price objective (up from $203.00) on shares of AvalonBay Communities in a research report on Tuesday, July 14th. Finally, Piper Sandler boosted their target price on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average target price of $196.80.

AvalonBay Communities Trading Down 0.6%

Shares of NYSE AVB opened at $190.71 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $27.09 billion, a PE ratio of 27.64, a PEG ratio of 3.34 and a beta of 0.77. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $204.68. The stock has a fifty day simple moving average of $187.09 and a 200-day simple moving average of $179.23.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The firm had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same quarter last year, the business earned $2.83 earnings per share. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.19%.

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.