KBC Group NV Trims Stock Position in AvalonBay Communities, Inc. $AVB

Key Points

• KBC Group NV reduced its stake in AvalonBay Communities by 26.4% in the first quarter, selling 14,201 shares and leaving it with 39,535 shares worth about $6.46 million.
• AvalonBay reported strong quarterly earnings of $2.86 per share, well above analyst estimates of $1.23, though revenue of $712.17 million missed expectations.
• The company paid a quarterly dividend of $1.78 per share, equal to an annualized yield of 3.7%, while analysts currently rate the stock a consensus Hold with an average target price of $196.80.

KBC Group NV cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 26.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,535 shares of the real estate investment trust's stock after selling 14,201 shares during the period. KBC Group NV's holdings in AvalonBay Communities were worth $6,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Reflection Asset Management purchased a new position in shares of AvalonBay Communities during the 4th quarter valued at about $25,000. Clearstead Trust LLC lifted its holdings in shares of AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 56 shares during the period. Zions Bancorporation National Association UT boosted its stake in shares of AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust's stock worth $29,000 after buying an additional 120 shares during the last quarter. BOKF NA purchased a new stake in shares of AvalonBay Communities in the third quarter worth about $31,000. Finally, Headlands Technologies LLC acquired a new stake in AvalonBay Communities during the second quarter worth about $36,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

NYSE AVB opened at $190.27 on Thursday. The stock has a market capitalization of $27.03 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 3.32 and a beta of 0.77. The stock has a 50-day moving average of $187.17 and a 200 day moving average of $179.29. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $204.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $2.86 EPS for the quarter, beating the consensus estimate of $1.23 by $1.63. The company had revenue of $712.17 million for the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period last year, the company earned $2.82 earnings per share. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.28 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%.

Analyst Ratings Changes

Several brokerages recently weighed in on AVB. Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AvalonBay Communities in a research note on Monday, July 6th. Jefferies Financial Group raised shares of AvalonBay Communities to a "hold" rating in a report on Friday, June 26th. Cantor Fitzgerald boosted their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company lowered their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Three investment 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.com, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $196.80.

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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