PensionDanmark Pensionsforsikringsaktieselskab Cuts Holdings in AvalonBay Communities, Inc. $AVB

PensionDanmark Pensionsforsikringsaktieselskab reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 84.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,120 shares of the real estate investment trust’s stock after selling 21,622 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in AvalonBay Communities were worth $777,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVB. Auto Owners Insurance Co lifted its position in AvalonBay Communities by 18,031.0% during the fourth quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares in the last quarter. State Street Corp increased its position in shares of AvalonBay Communities by 1.0% in the third quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after acquiring an additional 92,467 shares in the last quarter. Norges Bank acquired a new stake in shares of AvalonBay Communities in the fourth quarter worth $1,394,635,000. JPMorgan Chase & Co. raised its stake in shares of AvalonBay Communities by 22.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after acquiring an additional 944,129 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after acquiring an additional 383,983 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 2.1%

Shares of NYSE AVB opened at $183.70 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $26.23 billion, a P/E ratio of 30.02, a PEG ratio of 3.26 and a beta of 0.76. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $198.63. The stock’s 50 day moving average price is $188.22 and its two-hundred day moving average price is $180.01.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The business had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same period in the prior year, the firm earned $2.82 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued 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 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is 116.34%.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of research reports. Royal Bank Of Canada upped their price target on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Scotiabank raised their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective on the stock in a research report on Monday, June 1st. UBS Group reduced their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Weiss Ratings downgraded AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $196.80.

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.