Geode Capital Management LLC Raises Stock Holdings in AvalonBay Communities, Inc. $AVB

Geode Capital Management LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,875,614 shares of the real estate investment trust’s stock after buying an additional 57,599 shares during the quarter. Geode Capital Management LLC’s holdings in AvalonBay Communities were worth $785,551,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter worth approximately $280,226,000. PGGM Investments increased its holdings in AvalonBay Communities by 7,782.9% in the 2nd quarter. PGGM Investments now owns 478,966 shares of the real estate investment trust’s stock valued at $97,470,000 after purchasing an additional 472,890 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in AvalonBay Communities by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock valued at $1,184,712,000 after purchasing an additional 367,853 shares during the period. JPMorgan Chase & Co. lifted its stake in AvalonBay Communities by 3.9% during the first quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust’s stock worth $818,653,000 after purchasing an additional 143,646 shares in the last quarter. Finally, Strs Ohio acquired a new position in AvalonBay Communities during the first quarter worth $30,453,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $177.01 on Friday. The business has a 50-day simple moving average of $187.02 and a 200-day simple moving average of $195.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $239.29. The company has a market cap of $25.06 billion, a PE ratio of 21.61, a P/E/G ratio of 2.54 and a beta of 0.84.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.The firm had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. During the same quarter in the prior year, the firm earned $2.74 EPS. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 30th. AvalonBay Communities’s dividend payout ratio is 85.47%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVB. Truist Financial raised AvalonBay Communities from a “hold” rating to a “buy” rating and dropped their price objective for the company from $224.00 to $218.00 in a research note on Thursday, September 11th. Piper Sandler dropped their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. BNP Paribas lowered shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $209.35.

AvalonBay Communities Company Profile

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.