AvalonBay Communities, Inc. $AVB Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,153 shares of the real estate investment trust’s stock after purchasing an additional 6,511 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AvalonBay Communities were worth $41,754,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AVB. Empowered Funds LLC increased its stake in AvalonBay Communities by 5.7% in the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 148 shares during the period. Truist Financial Corp boosted its holdings in shares of AvalonBay Communities by 44.6% in the second quarter. Truist Financial Corp now owns 11,410 shares of the real estate investment trust’s stock valued at $2,322,000 after acquiring an additional 3,518 shares in the last quarter. PFG Investments LLC increased its stake in shares of AvalonBay Communities by 8.0% during the second quarter. PFG Investments LLC now owns 1,395 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 103 shares during the period. Hilltop National Bank acquired a new position in shares of AvalonBay Communities during the second quarter worth about $58,000. Finally, Ameritas Advisory Services LLC purchased a new position in AvalonBay Communities during the second quarter worth about $133,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Evercore ISI reaffirmed an “in-line” rating and set a $214.00 price objective on shares of AvalonBay Communities in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft cut AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a research report on Tuesday, January 20th. Scotiabank decreased their target price on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Colliers Securities reiterated a “neutral” rating and issued a $195.00 price target (down previously from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $203.50.

AvalonBay Communities Stock Down 1.4%

AVB opened at $175.20 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $24.81 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.04 and a beta of 0.75. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $230.21. The business’s fifty day moving average is $179.74 and its two-hundred day moving average is $185.46.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 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.