Nykredit A S Invests $10.83 Million in AvalonBay Communities, Inc. $AVB

Nykredit A S bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 57,395 shares of the real estate investment trust’s stock, valued at approximately $10,830,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AVB. BlackRock Inc. acquired a new stake in AvalonBay Communities in the second quarter valued at approximately $3,368,659,000. Auto Owners Insurance Co grew its position in shares of AvalonBay Communities by 18,031.0% in the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares during the last quarter. Norges Bank bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $1,394,635,000. Legal & General Group Plc acquired a new stake in shares of AvalonBay Communities in the second quarter valued at about $366,672,000. Finally, Bank of America Corp DE acquired a new stake in shares of AvalonBay Communities in the second quarter valued at about $358,275,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Friday. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s 50-day simple moving average is $187.99 and its 200 day simple moving average is $181.04. The stock has a market cap 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.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share 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 analysts’ expectations of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter in the previous year, the firm earned $2.82 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group cut their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a research report on Monday, June 1st. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Truist Financial boosted their target price on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Profile

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.