Hsbc Holdings PLC Cuts Stake in AvalonBay Communities, Inc. $AVB

Hsbc Holdings PLC lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 15.0% during the fourth quarter, HoldingsChannel reports. 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’s holdings in AvalonBay Communities were worth $113,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AVB. Reflection Asset Management purchased a new position in AvalonBay Communities in the 4th quarter worth approximately $25,000. Zions Bancorporation National Association UT boosted its stake in shares of AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. BOKF NA acquired a new stake in AvalonBay Communities during the 3rd quarter valued at $31,000. Elyxium Wealth LLC purchased a new stake in AvalonBay Communities during the 4th quarter worth $32,000. Finally, Headlands Technologies LLC purchased a new stake in AvalonBay Communities during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $193.62 on Friday. The firm has a market cap of $26.93 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $205.00. The company’s 50-day moving average price is $184.68 and its 200 day moving average price is $178.34. 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 (NYSE:AVB) last issued its earnings results 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). The company had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same quarter in the previous year, the firm earned $2.83 earnings per share. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AVB shares. Truist Financial upped their price objective on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their target price on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target for the company in a research report on Monday, June 1st. Piper Sandler lifted their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Cantor Fitzgerald upped their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $195.13.

AvalonBay Communities Company 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.