Saudi Central Bank Has $1.84 Million Position in AvalonBay Communities, Inc. $AVB

Saudi Central Bank boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 86.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,738 shares of the real estate investment trust’s stock after purchasing an additional 4,512 shares during the period. Saudi Central Bank’s holdings in AvalonBay Communities were worth $1,837,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVB. Reflection Asset Management purchased a new stake in AvalonBay Communities in the 4th quarter worth approximately $25,000. Clearstead Trust LLC grew its holdings in shares of AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Zions Bancorporation National Association UT grew its holdings in shares of AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. BOKF NA acquired a new position in shares of AvalonBay Communities in the third quarter worth $31,000. Finally, Elyxium Wealth LLC acquired a new position in shares of AvalonBay Communities in the fourth quarter worth $32,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, August 19th. UBS Group dropped their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Finally, Piper Sandler boosted their price target on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities, Inc. has a 1-year low of $160.10 and a 1-year high of $198.63. The firm’s fifty day simple moving average is $187.73 and its 200-day simple moving average is $181.16. The company has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter in the prior year, the company posted $2.82 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

About AvalonBay Communities

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.