AvalonBay Communities, Inc. $AVB Stock Holdings Lifted by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.2% during the first quarter, Holdings Channel reports. The firm owned 271,640 shares of the real estate investment trust’s stock after purchasing an additional 15,783 shares during the quarter. Sei Investments Co.’s holdings in AvalonBay Communities were worth $44,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its holdings in shares of AvalonBay Communities by 5.7% in the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after buying an additional 148 shares during the period. Guggenheim Capital LLC raised its holdings in shares of AvalonBay Communities by 2.8% during the second quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 129 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of AvalonBay Communities in the 2nd quarter valued at approximately $1,374,000. Cresset Asset Management LLC lifted its position in shares of AvalonBay Communities by 14.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 360 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in AvalonBay Communities by 9.5% in the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after purchasing an additional 1,629 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.0%

Shares of NYSE:AVB opened at $189.53 on Monday. The firm has a fifty day moving average of $187.49 and a two-hundred day moving average of $179.43. The firm has a market capitalization of $26.92 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 3.30 and a beta of 0.77. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $203.29. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The company had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same period last year, the company posted $2.82 earnings per share. On average, equities analysts expect that AvalonBay Communities, Inc. will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective on the stock in a research report on Monday, June 1st. Barclays reaffirmed 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. Piper Sandler lifted their price target on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.80.

About AvalonBay Communities

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.