Janney Montgomery Scott LLC Cuts Stock Holdings in AvalonBay Communities, Inc. $AVB

Janney Montgomery Scott LLC lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 43.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 39,271 shares of the real estate investment trust’s stock after selling 29,614 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AvalonBay Communities were worth $6,415,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Auto Owners Insurance Co increased its holdings in AvalonBay Communities by 18,031.0% during the fourth 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 period. State Street Corp lifted its holdings in AvalonBay Communities by 1.0% during the third quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after buying an additional 92,467 shares during the period. Norges Bank purchased a new stake in AvalonBay Communities during the fourth quarter worth $1,394,635,000. JPMorgan Chase & Co. boosted its position in AvalonBay Communities by 22.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after acquiring an additional 944,129 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in AvalonBay Communities by 9.3% during the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after acquiring an additional 383,983 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AVB. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. UBS Group cut their target price 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. Barclays reduced their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Piper Sandler increased their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada raised their price target on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $195.13.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $193.62 on Friday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $205.00. The business’s fifty day simple moving average is $184.68 and its 200-day simple moving average is $178.34. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The company has a market cap of $26.93 billion, a PE ratio of 28.06, a PEG ratio of 3.38 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The business had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same period in the previous year, the business earned $2.83 EPS. Analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.

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.