Edgestream Partners L.P. Has $10.71 Million Holdings in AvalonBay Communities, Inc. $AVB

Edgestream Partners L.P. lessened its position in AvalonBay Communities, Inc. (NYSE:AVB) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,594 shares of the real estate investment trust’s stock after selling 12,491 shares during the quarter. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $10,715,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Auto Owners Insurance Co lifted its position in shares of AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock worth $213,677,000 after purchasing an additional 11,720,150 shares during the last quarter. State Street Corp increased its position 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 acquired a new position in shares of AvalonBay Communities during the fourth quarter worth approximately $1,394,635,000. JPMorgan Chase & Co. boosted its position in shares of AvalonBay Communities by 22.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after acquiring an additional 944,129 shares during the period. Finally, Principal Financial Group Inc. increased its position in AvalonBay Communities by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after acquiring an additional 383,983 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of research reports. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler lifted their target price on AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Truist Financial upped their price target on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Cantor Fitzgerald lifted their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded AvalonBay Communities from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $196.80.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $192.59 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.62 and a quick ratio of 0.62. The business’s fifty day moving average price is $187.77 and its two-hundred day moving average price is $179.59. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $202.07. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 3.31 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 22nd. 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 net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same quarter in the prior year, the firm posted $2.82 EPS. As a group, analysts predict that AvalonBay Communities, Inc. will post 11.29 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued 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 dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.19%.

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.