Rhumbline Advisers Has $56.97 Million Stock Position in AvalonBay Communities, Inc. $AVB

Rhumbline Advisers cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,895 shares of the real estate investment trust’s stock after selling 14,526 shares during the quarter. Rhumbline Advisers’ holdings in AvalonBay Communities were worth $56,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVB. Mather Group LLC. acquired a new position in AvalonBay Communities during the 3rd quarter valued at $30,000. Clearstead Trust LLC increased its holdings in shares of AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares during the period. AlphaQuest LLC acquired a new position in shares of AvalonBay Communities during the third quarter valued at about $33,000. Headlands Technologies LLC acquired a new position in shares of AvalonBay Communities during the second quarter valued at about $36,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of AvalonBay Communities in the second quarter valued at about $59,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AVB. Royal Bank Of Canada lowered their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating on the stock in a research note on Friday, February 6th. Morgan Stanley lowered their price objective on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Piper Sandler cut their target price on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. Citigroup decreased their price target on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald increased their price objective on shares of AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $200.91.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $176.11 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.67 and a quick ratio of 0.67. The business’s fifty day moving average price is $178.74 and its two-hundred day moving average price is $184.02. AvalonBay Communities, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $230.21. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 3.08 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 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 company had revenue of $767.86 million for the quarter, compared to the consensus estimate of $766.38 million. During the same quarter in the previous year, the company earned $2.80 EPS. As a group, analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.78 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, March 31st. AvalonBay Communities’s payout ratio is currently 94.85%.

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.