Hsbc Holdings PLC Trims Holdings in AvalonBay Communities, Inc. $AVB

Hsbc Holdings PLC lowered its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 626,314 shares of the real estate investment trust’s stock after selling 110,596 shares during the period. Hsbc Holdings PLC owned 0.45% of AvalonBay Communities worth $113,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVB. Reflection Asset Management purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $25,000. Tobam boosted its stake in shares of AvalonBay Communities by 850.2% during the fourth quarter. Tobam now owns 3,012 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 2,695 shares during the period. DGS Capital Management LLC purchased a new position in shares of AvalonBay Communities during the fourth quarter worth about $218,000. Pacer Advisors Inc. grew its holdings in shares of AvalonBay Communities by 42.5% during the fourth quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust’s stock worth $2,931,000 after buying an additional 4,820 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in AvalonBay Communities in the 4th quarter valued at about $632,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB opened at $177.55 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $209.86. The company has a 50-day simple moving average of $181.32 and a 200-day simple moving average of $177.64. The company has a market capitalization of $24.70 billion, a PE ratio of 25.73, a P/E/G ratio of 3.09 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. During the same period in the prior year, the firm posted $2.83 EPS. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. AvalonBay Communities’s payout ratio is 103.19%.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Scotiabank dropped their target price on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a report on Thursday, May 14th. Piper Sandler upped their price target on AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Royal Bank Of Canada upped their price objective 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. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $195.13.

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.