Edgestream Partners L.P. Has $10.71 Million Stock Holdings in AvalonBay Communities, Inc. $AVB

Edgestream Partners L.P. decreased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 16.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 65,594 shares of the real estate investment trust’s stock after selling 12,491 shares during the period. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $10,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVB. Clearstead Trust LLC raised its stake in shares of AvalonBay Communities by 56.0% in 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 last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares in the last quarter. Keybank National Association OH raised its position in AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 62 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its position in AvalonBay Communities by 1.4% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock valued at $1,090,000 after buying an additional 90 shares during the last quarter. Finally, Phoenix Financial Ltd. increased its stake in shares of AvalonBay Communities by 5.7% in the 4th quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AVB has been the topic of several research reports. Piper Sandler upped their price target on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada boosted 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. Wells Fargo & Company reduced their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Scotiabank upped their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Three research 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 company presently has an average rating of “Hold” and an average target price of $196.80.

AvalonBay Communities Price Performance

NYSE AVB opened at $192.59 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $27.36 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 3.31 and a beta of 0.77. The business has a 50 day simple moving average of $187.77 and a 200 day simple moving average of $179.59. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $202.07.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, July 22nd. 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 company had revenue of $777.77 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $2.82 EPS. Analysts anticipate that AvalonBay Communities, Inc. will post 11.29 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. AvalonBay Communities’s dividend payout ratio is presently 103.19%.

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.