Pensionfund PDN Acquires Shares of 20,120 AvalonBay Communities, Inc. $AVB

Pensionfund PDN bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,120 shares of the real estate investment trust’s stock, valued at approximately $3,648,000. AvalonBay Communities accounts for approximately 2.4% of Pensionfund PDN’s holdings, making the stock its 10th biggest position.

A number of other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in AvalonBay Communities by 1.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares during the last quarter. PFG Investments LLC grew its stake in AvalonBay Communities by 4.4% in the 3rd quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 61 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of AvalonBay Communities by 13.3% in the 3rd quarter. Global Retirement Partners LLC now owns 564 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 66 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of AvalonBay Communities by 0.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,126 shares of the real estate investment trust’s stock worth $1,654,000 after buying an additional 76 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of AvalonBay Communities by 1.5% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,779 shares of the real estate investment trust’s stock valued at $1,116,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $163.06 on Tuesday. The stock has a market cap of $22.84 billion, a PE ratio of 19.91, a PEG ratio of 2.83 and a beta of 0.75. The company’s fifty day moving average is $175.46 and its 200 day moving average is $180.90. AvalonBay Communities, Inc. has a 52 week low of $160.72 and a 52 week high of $217.32. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The business had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same period in the prior year, the business posted $2.80 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, March 31st. This represents a $7.12 annualized dividend and a yield of 4.4%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s dividend payout ratio (DPR) is currently 86.94%.

Analyst Ratings Changes

Several brokerages recently issued reports on AVB. Barclays cut their target price on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research report on Friday, March 6th. Citigroup lowered their price target on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Wall Street Zen lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Piper Sandler cut their price objective on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a report on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Friday, January 9th. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $198.75.

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.