Fort Washington Investment Advisors Inc. OH Increases Stake in AvalonBay Communities, Inc. $AVB

Fort Washington Investment Advisors Inc. OH raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 24.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 180,783 shares of the real estate investment trust’s stock after purchasing an additional 36,073 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in AvalonBay Communities were worth $29,531,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Auto Owners Insurance Co lifted its stake in shares of AvalonBay Communities by 18,031.0% in the fourth quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock worth $213,677,000 after buying an additional 11,720,150 shares in the last quarter. Norges Bank bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AvalonBay Communities by 15,065.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock worth $326,552,000 after acquiring an additional 1,789,195 shares during the last quarter. Bank of America Corp DE raised its holdings in AvalonBay Communities by 76.0% in the 3rd quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock worth $455,077,000 after acquiring an additional 1,017,286 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AvalonBay Communities by 22.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after acquiring an additional 944,129 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVB has been the topic of several recent analyst reports. Scotiabank cut their target price on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 14th. Truist Financial boosted their price target on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Piper Sandler upped their price target on AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Cantor Fitzgerald increased their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company reduced their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $195.13.

AvalonBay Communities Stock Up 0.0%

AVB opened at $190.13 on Monday. The stock has a market capitalization of $26.45 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.31 and a beta of 0.78. The firm has a 50 day moving average price of $182.76 and a 200-day moving average price of $177.81. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $206.62. 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $768.80 million. During the same quarter in the prior year, the business posted $2.83 EPS. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current 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 $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

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.