Glen Eagle Advisors LLC Lowers Holdings in AvalonBay Communities, Inc. $AVB

Glen Eagle Advisors LLC reduced its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 95.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 264 shares of the real estate investment trust’s stock after selling 5,359 shares during the period. Glen Eagle Advisors LLC’s holdings in AvalonBay Communities were worth $43,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SummitTX Capital L.P. acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at about $851,000. OMERS ADMINISTRATION Corp grew its holdings in AvalonBay Communities by 31.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 6,675 shares of the real estate investment trust’s stock worth $1,090,000 after acquiring an additional 1,587 shares during the period. 44 Wealth Management LLC grew its holdings in AvalonBay Communities by 21.1% during the first quarter. 44 Wealth Management LLC now owns 3,952 shares of the real estate investment trust’s stock worth $646,000 after acquiring an additional 689 shares during the period. Wealth Alliance LLC raised its position in AvalonBay Communities by 21.0% during the first quarter. Wealth Alliance LLC now owns 3,685 shares of the real estate investment trust’s stock valued at $602,000 after acquiring an additional 639 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in AvalonBay Communities during the first quarter valued at approximately $1,493,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AVB shares. Scotiabank upped their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of AvalonBay Communities from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research note on Monday, June 1st. Truist Financial increased their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, Piper Sandler increased their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $196.80.

AvalonBay Communities Stock Performance

NYSE AVB opened at $192.59 on Thursday. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 3.31 and a beta of 0.77. The stock has a 50-day moving average of $187.77 and a 200 day moving average of $179.59. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $202.07.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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). The business had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period in the previous year, the business posted $2.82 earnings per share. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.29 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 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.