Swedbank AB Sells 3,554 Shares of AvalonBay Communities, Inc. $AVB

Swedbank AB decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.7% in the 3rd quarter, Holdings Channel reports. The fund owned 59,084 shares of the real estate investment trust’s stock after selling 3,554 shares during the period. Swedbank AB’s holdings in AvalonBay Communities were worth $11,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Clearstead Trust LLC boosted its stake in shares of AvalonBay Communities by 62.0% in the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 62 shares in the last quarter. Headlands Technologies LLC acquired a new stake in AvalonBay Communities in the second quarter valued at approximately $36,000. Sound Income Strategies LLC grew its stake in shares of AvalonBay Communities by 76.4% during the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 81 shares during the last quarter. Hilltop National Bank acquired a new position in shares of AvalonBay Communities during the second quarter worth $58,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of AvalonBay Communities in the 2nd quarter valued at $59,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $183.15 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. AvalonBay Communities, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $230.21. The company has a 50 day simple moving average of $179.98 and a two-hundred day simple moving average of $190.18. The company has a market capitalization of $25.93 billion, a PE ratio of 22.36, a P/E/G ratio of 3.22 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data 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). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The firm had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same period in the prior year, the company posted $2.74 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.8%. AvalonBay Communities’s dividend payout ratio (DPR) is 85.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AVB shares. BNP Paribas Exane lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. UBS Group reduced their price target on AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Colliers Securities reiterated a “neutral” rating and set a $195.00 target price (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada decreased their price target on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and an average price target of $205.89.

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.