AvalonBay Communities, Inc. $AVB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 11.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 831,941 shares of the real estate investment trust’s stock after selling 106,772 shares during the period. Bank of New York Mellon Corp’s holdings in AvalonBay Communities were worth $135,898,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AVB. Reflection Asset Management purchased a new stake in AvalonBay Communities in the fourth quarter valued at about $25,000. Zions Bancorporation National Association UT raised its position in shares of AvalonBay Communities by 300.0% in the 4th 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 last quarter. BOKF NA purchased a new position in shares of AvalonBay Communities in the 3rd quarter valued at approximately $31,000. Headlands Technologies LLC acquired a new stake in AvalonBay Communities in the 2nd quarter worth approximately $36,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities during the 4th quarter worth approximately $32,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 0.0%

AVB stock opened at $192.47 on Monday. The company has a market capitalization of $27.34 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 3.35 and a beta of 0.77. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $205.00. The firm’s fifty day simple moving average is $186.93 and its 200-day simple moving average is $179.11. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62.

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

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio is presently 103.19%.

Wall Street Analyst Weigh In

AVB has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. UBS Group lowered their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Truist Financial upped their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Barclays reissued an “equal weight” rating and issued a $205.00 target price (up from $203.00) on shares of AvalonBay Communities in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada lifted their price target on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $195.80.

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.