AvalonBay Communities, Inc. $AVB Position Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,642 shares of the real estate investment trust’s stock after selling 6,528 shares during the period. Thrivent Financial for Lutherans owned 0.15% of AvalonBay Communities worth $42,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Metis Global Partners LLC grew its holdings in shares of AvalonBay Communities by 13.8% during the second quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock valued at $7,525,000 after purchasing an additional 4,473 shares during the last quarter. Amundi grew its stake in AvalonBay Communities by 17.7% during the 2nd quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock worth $90,768,000 after buying an additional 67,695 shares during the last quarter. Jump Financial LLC acquired a new stake in AvalonBay Communities in the first quarter worth $526,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in AvalonBay Communities by 1.5% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 723,402 shares of the real estate investment trust’s stock valued at $147,212,000 after buying an additional 10,929 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in AvalonBay Communities by 2.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,878 shares of the real estate investment trust’s stock valued at $10,150,000 after buying an additional 1,402 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on AVB shares. Truist Financial lowered their price target on shares of AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Wells Fargo & Company reduced their price objective on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Royal Bank Of Canada lowered their target price on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Colliers Securities reaffirmed a “neutral” rating and set a $195.00 target price (down previously from $200.00) on shares of AvalonBay Communities in a research note on Thursday, December 4th. Finally, Mizuho reduced their price target on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $205.89.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $177.89 on Tuesday. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $230.23. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $180.73 and a two-hundred day moving average of $191.47. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 3.21 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.During the same quarter in the previous year, the firm earned $2.74 earnings per share. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s payout ratio is 85.47%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.