Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 27.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,708 shares of the real estate investment trust's stock after purchasing an additional 25,922 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of AvalonBay Communities worth $26,112,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of AvalonBay Communities by 2.2% in the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust's stock valued at $2,097,971,000 after purchasing an additional 196,938 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of AvalonBay Communities by 0.6% in the 4th 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 buying 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 valued at $914,627,000 after acquiring an additional 55,588 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AvalonBay Communities by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust's stock valued at $805,113,000 after purchasing an additional 27,988 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in AvalonBay Communities by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,701 shares of the real estate investment trust's stock valued at $498,606,000 after buying an additional 26,265 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.
AVB has been the subject of a number of research reports. Scotiabank decreased their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a research report on Thursday, November 14th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Royal Bank of Canada boosted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Truist Financial increased their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research report on Monday. Finally, Barclays reduced their target price on shares of AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of "Moderate Buy" and a consensus target price of $238.64.
Check Out Our Latest Stock Analysis on AvalonBay Communities
NYSE:AVB traded down $2.92 during mid-day trading on Wednesday, reaching $210.02. The stock had a trading volume of 643,090 shares, compared to its average volume of 635,966. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $29.88 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The stock's 50 day simple moving average is $218.61 and its two-hundred day simple moving average is $223.66.
AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.75 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.33%. AvalonBay Communities's payout ratio is 92.23%.
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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