Swiss National Bank Grows Holdings in AvalonBay Communities, Inc. $AVB

Swiss National Bank increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,521 shares of the real estate investment trust's stock after acquiring an additional 25,400 shares during the quarter. Swiss National Bank owned about 0.30% of AvalonBay Communities worth $67,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AVB. Empowered Funds LLC increased its stake in shares of AvalonBay Communities by 5.7% during the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust's stock valued at $584,000 after purchasing an additional 148 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of AvalonBay Communities by 2.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust's stock worth $968,000 after buying an additional 129 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of AvalonBay Communities in the 2nd quarter worth approximately $1,374,000. Cresset Asset Management LLC grew its stake in shares of AvalonBay Communities by 14.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust's stock worth $591,000 after buying an additional 360 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in AvalonBay Communities by 9.5% during the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust's stock valued at $3,837,000 after buying an additional 1,629 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $190.71 on Wednesday. The company has a 50 day moving average price of $187.09 and a 200-day moving average price of $179.23. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $204.68. The firm has a market capitalization of $27.09 billion, a PE ratio of 27.64, a P/E/G ratio of 3.34 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80.

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

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given 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 presently 103.19%.

Analysts Set New Price Targets

AVB has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on AvalonBay Communities from $195.00 to $210.00 and gave the company a "neutral" rating in a research note on Tuesday. Weiss Ratings restated a "hold (c)" rating on shares of AvalonBay Communities in a report on Monday, July 6th. Wolfe Research raised AvalonBay Communities from an "outperform" rating to an "outperform" rating and set a $209.00 price target for the company in a research report on Monday, June 1st. Morgan Stanley reaffirmed an "equal weight" rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Finally, Scotiabank upped their price target on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $196.80.

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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