Huntington National Bank boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,078 shares of the real estate investment trust's stock after buying an additional 3,885 shares during the quarter. Huntington National Bank owned approximately 0.14% of AvalonBay Communities worth $35,011,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in AvalonBay Communities by 47.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,465,899 shares of the real estate investment trust's stock valued at $1,061,751,000 after buying an additional 1,759,576 shares in the last quarter. Principal Financial Group Inc. boosted its stake in AvalonBay Communities by 4.8% in the 2nd quarter. Principal Financial Group Inc. now owns 5,043,581 shares of the real estate investment trust's stock valued at $979,715,000 after buying an additional 228,867 shares in the last quarter. Wellington Management Group LLP boosted its stake in AvalonBay Communities by 57.1% in the 1st quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust's stock valued at $531,516,000 after buying an additional 777,631 shares in the last quarter. Legal & General Group Plc boosted its stake in AvalonBay Communities by 6.4% in the 2nd quarter. Legal & General Group Plc now owns 2,128,094 shares of the real estate investment trust's stock valued at $413,382,000 after buying an additional 128,518 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in AvalonBay Communities by 7.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,488,955 shares of the real estate investment trust's stock valued at $289,230,000 after buying an additional 98,283 shares in the last quarter. Institutional investors and hedge funds own 87.30% of the company's stock.
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AvalonBay Communities Stock Down 0.2 %
Shares of AVB stock traded down $0.39 on Monday, hitting $177.13. 38,998 shares of the stock were exchanged, compared to its average volume of 781,800. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $24.78 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 3.23 and a beta of 0.88. The business has a 50-day moving average of $167.56 and a 200 day moving average of $183.07. AvalonBay Communities, Inc. has a fifty-two week low of $157.69 and a fifty-two week high of $259.05.
AvalonBay Communities Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a dividend of $1.59 per share. The ex-dividend date was Thursday, December 29th. This represents a $6.36 annualized dividend and a dividend yield of 3.59%. AvalonBay Communities's dividend payout ratio is currently 72.36%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AVB. Piper Sandler downgraded AvalonBay Communities from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $189.00 to $160.00 in a research report on Monday, November 7th. Jefferies Financial Group cut their price objective on AvalonBay Communities from $196.00 to $190.00 and set a "hold" rating for the company in a research report on Wednesday, October 19th. TheStreet downgraded AvalonBay Communities from a "b-" rating to a "c+" rating in a research report on Friday, October 14th. Truist Financial upgraded AvalonBay Communities from a "hold" rating to a "buy" rating and lifted their price objective for the company from $186.00 to $190.00 in a research report on Tuesday, January 17th. Finally, Morgan Stanley downgraded AvalonBay Communities from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $225.00 to $187.00 in a research report on Friday, December 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $202.78.
About AvalonBay Communities
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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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.
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