Rafferty Asset Management LLC decreased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,693 shares of the real estate investment trust's stock after selling 1,498 shares during the quarter. Rafferty Asset Management LLC's holdings in AvalonBay Communities were worth $4,112,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AVB. Norges Bank bought a new position in AvalonBay Communities during the fourth quarter worth $1,499,050,000. Price T Rowe Associates Inc. MD boosted its holdings in AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares during the period. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust's stock worth $1,009,781,000 after purchasing an additional 27,629 shares during the period. JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock worth $914,627,000 after purchasing an additional 55,588 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AvalonBay Communities by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock worth $810,470,000 after purchasing an additional 107,655 shares during the period. 92.61% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a report on Thursday, February 13th. Barclays lifted their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Truist Financial lifted their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Scotiabank boosted their price objective on AvalonBay Communities from $241.00 to $251.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, Morgan Stanley boosted their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities has a consensus rating of "Hold" and an average price target of $239.93.
View Our Latest Stock Analysis on AvalonBay Communities
AvalonBay Communities Stock Performance
AVB stock opened at $208.31 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $29.66 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29. The stock's fifty day moving average is $205.73 and its two-hundred day moving average is $216.68.
AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same period last year, the company earned $2.70 earnings per share. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.
About AvalonBay Communities
(
Free Report)
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.
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