National Pension Service Acquires 7,883 Shares of AvalonBay Communities, Inc. $AVB

National Pension Service lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 228,155 shares of the real estate investment trust’s stock after acquiring an additional 7,883 shares during the period. National Pension Service’s holdings in AvalonBay Communities were worth $44,073,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $30,000. Clearstead Trust LLC boosted its position in AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 62 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of AvalonBay Communities during the third quarter worth $33,000. Headlands Technologies LLC acquired a new position in shares of AvalonBay Communities during the second quarter worth $36,000. Finally, Hilltop National Bank bought a new position in shares of AvalonBay Communities in the 2nd quarter valued at $58,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 1.4%

AvalonBay Communities stock opened at $175.20 on Tuesday. The firm 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 52-week low of $166.73 and a 52-week high of $230.21. 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 firm has a 50 day moving average price of $179.74 and a two-hundred day moving average price of $185.46.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $1.75 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 4.0%. AvalonBay Communities’s payout ratio is presently 85.47%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVB. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Piper Sandler reduced their price target on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company dropped their price objective on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Colliers Securities reiterated a “neutral” rating and set a $195.00 target price (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Finally, Barclays boosted their target price on shares of AvalonBay Communities from $216.00 to $217.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus target price of $203.50.

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.