Northwestern Mutual Wealth Management Co. Acquires New Position in AvalonBay Communities, Inc. $AVB

Northwestern Mutual Wealth Management Co. bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 3,993 shares of the real estate investment trust’s stock, valued at approximately $753,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new position in shares of AvalonBay Communities in the fourth quarter worth $25,000. Clearstead Trust LLC increased its position in shares of AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 56 shares during the period. Zions Bancorporation National Association UT raised its stake in shares of AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. BOKF NA acquired a new stake in shares of AvalonBay Communities in the third quarter valued at $31,000. Finally, Headlands Technologies LLC purchased a new position in AvalonBay Communities in the second quarter valued at $36,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $184.06 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $198.63. The firm has a market capitalization of $26.28 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The stock’s 50-day simple moving average is $187.76 and its 200-day simple moving average is $180.67.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period last year, the company earned $2.82 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Truist Financial lifted their price objective on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $196.87.

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.