AvalonBay Communities, Inc. $AVB Position Boosted by PGGM Investments

Key Points

• PGGM Investments significantly increased its stake in AvalonBay Communities by 7,782.9% during Q2, now owning 478,966 shares worth approximately $97.47 million.
• AvalonBay Communities recently announced a quarterly dividend of $1.75, set to be paid on October 15th, with an annualized yield of 3.6%.
• Analysts have mixed views on AvalonBay Communities, with an average rating of "Hold" and a consensus price target of $218.50 per share.

PGGM Investments increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7,782.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,966 shares of the real estate investment trust's stock after buying an additional 472,890 shares during the quarter. AvalonBay Communities comprises 1.7% of PGGM Investments' portfolio, making the stock its 21st largest holding. PGGM Investments owned about 0.34% of AvalonBay Communities worth $97,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVB. Two Sigma Investments LP grew its holdings in AvalonBay Communities by 12.0% in the 4th quarter. Two Sigma Investments LP now owns 6,512 shares of the real estate investment trust's stock worth $1,432,000 after buying an additional 697 shares in the last quarter. Versant Capital Management Inc boosted its stake in AvalonBay Communities by 203.6% during the 1st quarter. Versant Capital Management Inc now owns 592 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 397 shares in the last quarter. Rhumbline Advisers increased its position in shares of AvalonBay Communities by 4.8% during the 1st quarter. Rhumbline Advisers now owns 299,097 shares of the real estate investment trust's stock valued at $64,192,000 after purchasing an additional 13,655 shares during the period. Czech National Bank increased its position in shares of AvalonBay Communities by 5.9% during the 1st quarter. Czech National Bank now owns 32,630 shares of the real estate investment trust's stock valued at $7,003,000 after purchasing an additional 1,830 shares during the period. Finally, Unigestion Holding SA increased its position in shares of AvalonBay Communities by 66.1% during the 1st quarter. Unigestion Holding SA now owns 4,259 shares of the real estate investment trust's stock valued at $914,000 after purchasing an additional 1,695 shares during the period. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVB shares. Barclays lifted their price target on AvalonBay Communities from $228.00 to $229.00 and gave the company an "equal weight" rating in a research report on Tuesday. Truist Financial raised shares of AvalonBay Communities from a "hold" rating to a "buy" rating and cut their price target for the company from $224.00 to $218.00 in a report on Thursday, September 11th. Wells Fargo & Company cut their price target on shares of AvalonBay Communities from $244.00 to $213.00 and set an "overweight" rating for the company in a report on Wednesday, August 27th. JPMorgan Chase & Co. cut their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a report on Tuesday, June 17th. Finally, Piper Sandler reissued a "neutral" rating and issued a $200.00 price target (down from $255.00) on shares of AvalonBay Communities in a report on Monday, August 4th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities has an average rating of "Hold" and a consensus price target of $218.50.

AvalonBay Communities Price Performance

Shares of AVB opened at $193.20 on Wednesday. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.79 and a beta of 0.87. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. The business's 50-day moving average is $192.60 and its 200-day moving average is $200.53.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.02. The company had revenue of $689.90 million for the quarter, compared to the consensus estimate of $759.08 million. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%.During the same quarter in the prior year, the company earned $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. Equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.75 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.6%. AvalonBay Communities's dividend payout ratio is currently 86.21%.

AvalonBay Communities Profile

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.

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.