Principal Financial Group Inc. Has $794.52 Million Holdings in AvalonBay Communities, Inc. $AVB

Principal Financial Group Inc. lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,113,064 shares of the real estate investment trust’s stock after selling 118,740 shares during the quarter. Principal Financial Group Inc. owned about 2.89% of AvalonBay Communities worth $794,522,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC boosted its position in AvalonBay Communities by 5.7% during the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after purchasing an additional 148 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of AvalonBay Communities by 32.6% in the second quarter. Janney Montgomery Scott LLC now owns 68,357 shares of the real estate investment trust’s stock worth $13,911,000 after buying an additional 16,798 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of AvalonBay Communities by 44.6% during the 2nd quarter. Truist Financial Corp now owns 11,410 shares of the real estate investment trust’s stock worth $2,322,000 after buying an additional 3,518 shares during the period. PFG Investments LLC grew its stake in AvalonBay Communities by 8.0% in the 2nd quarter. PFG Investments LLC now owns 1,395 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 103 shares during the last quarter. Finally, J. Safra Sarasin Holding AG raised its holdings in AvalonBay Communities by 107.5% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 8,964 shares of the real estate investment trust’s stock worth $1,824,000 after acquiring an additional 4,645 shares during the period. 92.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AVB has been the subject of a number of recent analyst reports. Scotiabank decreased their price target on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a research note on Tuesday, January 20th. Piper Sandler lowered their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Morgan Stanley cut their price target on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating for the company in a report on Thursday, November 13th. Finally, Evercore ISI reissued an “in-line” rating and issued a $214.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus target price of $203.50.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $177.63 on Friday. The firm has a market capitalization of $25.15 billion, a PE ratio of 21.69, a PEG ratio of 2.99 and a beta of 0.75. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities, Inc. has a 1-year low of $166.73 and a 1-year high of $230.21. The business’s 50 day moving average is $179.84 and its 200-day moving average is $185.76.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.The firm had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same period last year, the business earned $2.74 earnings per share. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $1.75 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio is currently 85.47%.

AvalonBay Communities 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.