Legal & General Group Plc Has $386.72 Million Holdings in AvalonBay Communities, Inc. $AVB

Legal & General Group Plc boosted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,132,907 shares of the real estate investment trust’s stock after buying an additional 5,936 shares during the quarter. Legal & General Group Plc owned approximately 1.51% of AvalonBay Communities worth $386,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in AvalonBay Communities by 1.0% in the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock valued at $1,858,788,000 after buying an additional 92,467 shares during the last quarter. Principal Financial Group Inc. grew its stake in AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after buying an additional 383,983 shares during the last quarter. JPMorgan Chase & Co. grew its stake in AvalonBay Communities by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock valued at $814,376,000 after buying an additional 249,171 shares during the last quarter. Northern Trust Corp grew its stake in AvalonBay Communities by 3.5% in the 3rd quarter. Northern Trust Corp now owns 2,982,468 shares of the real estate investment trust’s stock valued at $576,123,000 after buying an additional 100,212 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in AvalonBay Communities by 76.0% in the 3rd quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after buying an additional 1,017,286 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE AVB opened at $185.39 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $25.79 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 2.74 and a beta of 0.79. The company’s fifty day moving average is $174.39 and its two-hundred day moving average is $176.93. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $209.86.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same quarter in the prior year, the business earned $2.83 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVB. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Barclays decreased their price target on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Cantor Fitzgerald raised their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada raised their price target on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $196.93.

About AvalonBay Communities

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.