Cbre Investment Management Listed Real Assets LLC Trims Stake in AvalonBay Communities, Inc. $AVB

Cbre Investment Management Listed Real Assets LLC trimmed its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 42.3% in the 4th quarter, HoldingsChannel reports. The firm owned 165,953 shares of the real estate investment trust’s stock after selling 121,591 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in AvalonBay Communities were worth $30,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in AvalonBay Communities by 1.0% in the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after buying an additional 92,467 shares during the period. Norges Bank bought a new position in AvalonBay Communities in the 4th quarter worth $1,394,635,000. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after buying an additional 383,983 shares during the period. JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock worth $814,376,000 after buying an additional 249,171 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AvalonBay Communities by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 4,151,217 shares of the real estate investment trust’s stock worth $750,042,000 after buying an additional 228,244 shares during the period. Institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVB. Scotiabank dropped their target price on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a report on Thursday, May 14th. Truist Financial dropped their price objective on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. UBS Group dropped their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Barclays dropped their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company dropped their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $198.44.

AvalonBay Communities Stock Up 0.2%

Shares of NYSE:AVB opened at $182.83 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $209.86. The company has a 50-day moving average price of $175.70 and a 200 day moving average price of $177.13. The company has a market cap of $25.43 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 3.17 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The firm had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same period last year, the company earned $2.83 earnings per share. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current year.

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.