Teachers Retirement System of The State of Kentucky acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) in the third quarter, HoldingsChannel reports. The firm acquired 42,623 shares of the real estate investment trust’s stock, valued at approximately $7,850,000.
Several other hedge funds have also made changes to their positions in AVB. Vanguard Group Inc. grew its holdings in AvalonBay Communities by 0.4% during the third quarter. Vanguard Group Inc. now owns 22,862,268 shares of the real estate investment trust’s stock worth $4,211,002,000 after acquiring an additional 88,659 shares during the period. Price T Rowe Associates Inc. MD increased its stake in AvalonBay Communities by 3.5% during the third quarter. Price T Rowe Associates Inc. MD now owns 5,658,277 shares of the real estate investment trust’s stock worth $1,042,200,000 after acquiring an additional 192,378 shares during the last quarter. Wellington Management Group LLP increased its stake in AvalonBay Communities by 57.1% during the first quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock worth $531,516,000 after acquiring an additional 777,631 shares during the last quarter. Legal & General Group Plc grew its stake in shares of AvalonBay Communities by 6.4% in the second quarter. Legal & General Group Plc now owns 2,128,094 shares of the real estate investment trust’s stock valued at $413,382,000 after buying an additional 128,518 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in AvalonBay Communities by 7.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,488,955 shares of the real estate investment trust’s stock valued at $289,230,000 after purchasing an additional 98,283 shares during the period. 87.30% of the stock is currently owned by hedge funds and other institutional investors.
AvalonBay Communities Stock Performance
Shares of AVB opened at $161.51 on Friday. The company has a market capitalization of $22.60 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 3.13 and a beta of 0.90. AvalonBay Communities, Inc. has a one year low of $157.69 and a one year high of $259.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 2.04. The company’s fifty day moving average price is $173.50 and its 200 day moving average price is $175.72.
AvalonBay Communities Increases Dividend
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Barclays boosted their target price on AvalonBay Communities from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Wednesday, March 1st. StockNews.com assumed coverage on AvalonBay Communities in a research note on Thursday. They issued a “hold” rating on the stock. KeyCorp dropped their price objective on AvalonBay Communities from $237.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, December 7th. Truist Financial upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and increased their price target for the company from $186.00 to $190.00 in a report on Tuesday, January 17th. Finally, Mizuho raised their target price on AvalonBay Communities from $179.00 to $188.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $202.78.
AvalonBay Communities Profile
AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.
- Get a free copy of the StockNews.com research report on AvalonBay Communities (AVB)
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
- Europe Raises Interest Rates, Should the Fed Follow?
Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVB – Get Rating).
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.