AvalonBay Communities, Inc. $AVB Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 724,203 shares of the real estate investment trust’s stock after purchasing an additional 32,751 shares during the period. Hsbc Holdings PLC owned about 0.51% of AvalonBay Communities worth $136,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of AvalonBay Communities in the second quarter worth $3,368,659,000. Auto Owners Insurance Co raised its holdings in shares of 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 worth $213,677,000 after purchasing an additional 11,720,150 shares during the period. State Street Corp raised its stake 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 acquiring an additional 92,467 shares during the period. Norges Bank bought a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $1,394,635,000. Finally, JPMorgan Chase & Co. grew its stake 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 worth $935,551,000 after buying an additional 944,129 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $184.06 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $198.63. The firm has a fifty day moving average of $187.67 and a two-hundred day moving average of $180.57. The firm has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same quarter in the prior year, the company posted $2.82 EPS. On average, equities analysts expect that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on AVB shares. Weiss Ratings cut shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price target on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Barclays raised their price objective on shares of AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research report on Monday, August 17th. Piper Sandler upped their price target on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.