AvalonBay Communities, Inc. $AVB Shares Bought by PGGM Investments

PGGM Investments grew its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 53.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 781,956 shares of the real estate investment trust’s stock after purchasing an additional 272,682 shares during the period. AvalonBay Communities accounts for about 2.2% of PGGM Investments’ investment portfolio, making the stock its 13th largest position. PGGM Investments owned about 0.55% of AvalonBay Communities worth $141,776,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Metis Global Partners LLC boosted its stake in shares of AvalonBay Communities by 21.0% during the 3rd quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock worth $8,646,000 after purchasing an additional 7,780 shares during the last quarter. Pensionfund PDN acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth about $3,648,000. Thrivent Financial for Lutherans lifted its holdings in shares of AvalonBay Communities by 3.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock worth $41,754,000 after acquiring an additional 6,511 shares during the period. Sun Life Financial Inc. lifted its holdings in shares of AvalonBay Communities by 5.7% during the 3rd quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock worth $31,117,000 after acquiring an additional 8,660 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of AvalonBay Communities by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock worth $80,449,000 after acquiring an additional 17,352 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 0.0%

NYSE AVB opened at $185.72 on Tuesday. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $209.86. The company’s 50 day moving average price is $174.06 and its 200 day moving average price is $176.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.23 and a beta of 0.79.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The business had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same quarter in the previous year, the business posted $2.83 EPS. On average, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.3 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Wells Fargo & Company cut their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Citigroup cut their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Finally, Cantor Fitzgerald increased their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target 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.