3,993 Shares in AvalonBay Communities, Inc. $AVB Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,993 shares of the real estate investment trust’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of AvalonBay Communities by 5.7% during the 1st 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 last quarter. Guggenheim Capital LLC lifted its holdings in AvalonBay Communities by 2.8% in 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 last quarter. Baird Financial Group Inc. acquired a new position in AvalonBay Communities in the second quarter valued at approximately $1,374,000. Cresset Asset Management LLC grew its position in AvalonBay Communities by 14.2% in the second quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 360 shares during the period. Finally, Bank of Nova Scotia grew its position in AvalonBay Communities by 9.5% in the second quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after acquiring an additional 1,629 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AVB. Truist Financial lifted their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target for the company in a report on Monday, June 1st. Barclays raised their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Royal Bank Of Canada boosted their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of AvalonBay Communities in a research report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $184.06 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $187.76 and its two-hundred day moving average is $180.67. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $198.63. The firm has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The firm had revenue of $777.77 million for the quarter, compared to analysts’ expectations of $772.37 million. During the same quarter in the prior year, the business earned $2.82 earnings per share. Research analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

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.