UniSuper Management Pty Ltd Reduces Position in AvalonBay Communities, Inc. $AVB

UniSuper Management Pty Ltd decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 36.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 78,878 shares of the real estate investment trust’s stock after selling 45,505 shares during the period. UniSuper Management Pty Ltd owned about 0.06% of AvalonBay Communities worth $15,237,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AVB. Strs Ohio boosted its position in AvalonBay Communities by 25.0% during the 3rd quarter. Strs Ohio now owns 178,350 shares of the real estate investment trust’s stock valued at $34,452,000 after buying an additional 35,701 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of AvalonBay Communities during the third quarter valued at about $401,000. Vert Asset Management LLC raised its stake in shares of AvalonBay Communities by 3.1% during the third quarter. Vert Asset Management LLC now owns 64,766 shares of the real estate investment trust’s stock valued at $12,511,000 after acquiring an additional 1,925 shares during the last quarter. Pacific Heights Asset Management LLC boosted its holdings in shares of AvalonBay Communities by 41.7% during the third quarter. Pacific Heights Asset Management LLC now owns 85,000 shares of the real estate investment trust’s stock worth $16,419,000 after purchasing an additional 25,000 shares during the period. Finally, Dynamic Wealth Strategies LLC grew its stake in shares of AvalonBay Communities by 72.6% in the third quarter. Dynamic Wealth Strategies LLC now owns 982 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 413 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.7%

NYSE:AVB opened at $178.76 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50-day moving average price is $180.04 and its 200-day moving average price is $186.66. The company has a market capitalization of $25.31 billion, a PE ratio of 21.83, a P/E/G ratio of 3.06 and a beta of 0.75. AvalonBay Communities, Inc. has a 1-year low of $166.73 and a 1-year high of $230.21.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.06). The business had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.During the same period in the previous year, the firm earned $2.74 EPS. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 85.47%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVB. Colliers Securities reaffirmed a “neutral” rating and set a $195.00 price target (down previously from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Mizuho dropped their target price on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Sunday. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $203.50.

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.