Hsbc Holdings PLC Raises Stake in AvalonBay Communities, Inc. $AVB

Key Points

• HSBC Holdings PLC increased its stake in AvalonBay Communities by 10.4% in the first quarter, ending with 691,452 shares valued at about $112.9 million.
• Analysts remain cautious on the stock overall, with a consensus rating of “Hold” and an average price target of $195.80 despite some recent target changes from brokerages.
• AvalonBay reported Q1 earnings of $2.33 per share, missing expectations of $2.80, while revenue came in roughly in line; the company also paid a quarterly dividend of $1.78, or $7.12 annualized.

Hsbc Holdings PLC boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 691,452 shares of the real estate investment trust's stock after buying an additional 65,138 shares during the quarter. Hsbc Holdings PLC owned approximately 0.50% of AvalonBay Communities worth $112,879,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Reflection Asset Management purchased a new position in AvalonBay Communities in the fourth quarter valued at about $25,000. Zions Bancorporation National Association UT increased its stake in shares of AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth approximately $31,000. Elyxium Wealth LLC purchased a new position in AvalonBay Communities in the fourth quarter valued at approximately $32,000. Finally, Headlands Technologies LLC purchased a new position in AvalonBay Communities in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVB. Cantor Fitzgerald increased their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AvalonBay Communities in a research report on Monday, July 6th. Wolfe Research upgraded AvalonBay Communities from an "outperform" rating to an "outperform" rating and set a $209.00 price target for the company in a research note on Monday, June 1st. UBS Group decreased their price objective on AvalonBay Communities from $191.00 to $189.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $195.80.

AvalonBay Communities Trading Down 1.5%

Shares of AVB stock opened at $192.47 on Friday. The company's fifty day simple moving average is $186.93 and its two-hundred day simple moving average is $179.15. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $205.00. The stock has a market capitalization of $27.34 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 3.35 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.80 by ($0.47). The company had revenue of $770.28 million during the quarter, compared to the consensus estimate of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period in the previous year, the business earned $2.83 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 annualized dividend 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.

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