AvalonBay Communities, Inc. $AVB Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC more than doubled its stake in AvalonBay, increasing holdings by 106.3% in Q3 to 139,852 shares (about $27.0M), representing roughly 0.10% of the company.
• AvalonBay raised its quarterly dividend to $1.78 (annualized $7.12) for a 4.1% yield, with an ex-dividend date of March 31 and a payout ratio of 85.47%.
• Analysts maintain an overall "Hold" consensus with a $199.66 average price target after several recent downward target revisions; the stock trades near $174 with a market cap of $24.42B and a P/E of 21.29.

Natixis Advisors LLC increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 106.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,852 shares of the real estate investment trust's stock after buying an additional 72,072 shares during the quarter. Natixis Advisors LLC owned about 0.10% of AvalonBay Communities worth $27,015,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC boosted its position in AvalonBay Communities by 21.0% during the 3rd quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust's stock worth $8,646,000 after acquiring an additional 7,780 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of AvalonBay Communities by 3.1% during the third quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust's stock valued at $41,754,000 after purchasing an additional 6,511 shares during the period. FORA Capital LLC increased its holdings in shares of AvalonBay Communities by 78.7% during the second quarter. FORA Capital LLC now owns 15,702 shares of the real estate investment trust's stock valued at $3,195,000 after purchasing an additional 6,916 shares during the period. Amundi raised its stake in shares of AvalonBay Communities by 17.7% during the second quarter. Amundi now owns 449,348 shares of the real estate investment trust's stock valued at $90,768,000 after purchasing an additional 67,695 shares in the last quarter. Finally, Sun Life Financial Inc. raised its stake in shares of AvalonBay Communities by 5.7% during the third quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust's stock valued at $31,117,000 after purchasing an additional 8,660 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Barclays dropped their price target on shares of AvalonBay Communities from $217.00 to $202.00 and set an "overweight" rating on the stock in a research report on Friday, March 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Royal Bank Of Canada decreased their price objective on shares of AvalonBay Communities from $191.00 to $187.00 and set a "sector perform" rating for the company in a report on Friday, February 6th. Finally, Colliers Securities reiterated a "neutral" rating and set a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a research note on Thursday, December 4th. Five equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $199.66.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $174.33 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $177.89 and a 200-day moving average of $182.52. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $217.35. The firm has a market cap of $24.42 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating the consensus estimate of $2.84 by $0.01. The business had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same period in the prior year, the business earned $2.80 earnings per share. Analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. AvalonBay Communities's payout ratio is currently 85.47%.

AvalonBay Communities Company 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.

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