Hsbc Holdings PLC Decreases Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Hsbc Holdings PLC lowered its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVBGet Rating) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 265,492 shares of the real estate investment trust’s stock after selling 22,042 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of AvalonBay Communities worth $66,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. abrdn plc raised its holdings in AvalonBay Communities by 5.0% during the 4th quarter. abrdn plc now owns 329,603 shares of the real estate investment trust’s stock valued at $83,255,000 after buying an additional 15,608 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in AvalonBay Communities by 37.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,360 shares of the real estate investment trust’s stock valued at $1,859,000 after acquiring an additional 2,024 shares in the last quarter. HighTower Advisors LLC increased its position in shares of AvalonBay Communities by 12.2% in the fourth quarter. HighTower Advisors LLC now owns 10,795 shares of the real estate investment trust’s stock valued at $2,737,000 after buying an additional 1,174 shares in the last quarter. Norinchukin Bank The increased its position in shares of AvalonBay Communities by 1.1% in the fourth quarter. Norinchukin Bank The now owns 15,275 shares of the real estate investment trust’s stock valued at $3,858,000 after buying an additional 166 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of AvalonBay Communities in the fourth quarter worth approximately $11,596,000. 88.57% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $214.46 on Friday. AvalonBay Communities, Inc. has a 52-week low of $183.35 and a 52-week high of $259.05. The stock has a market cap of $29.99 billion, a PE ratio of 36.85, a PEG ratio of 3.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. The firm’s 50 day moving average price is $204.19 and its two-hundred day moving average price is $217.26.

AvalonBay Communities (NYSE:AVBGet Rating) last posted its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The company had revenue of $644.56 million for the quarter, compared to analyst estimates of $632.41 million. AvalonBay Communities had a net margin of 33.39% and a return on equity of 7.47%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $1.98 earnings per share. As a group, analysts forecast that AvalonBay Communities, Inc. will post 9.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Credit Suisse Group initiated coverage on AvalonBay Communities in a research report on Wednesday, June 22nd. They issued a “neutral” rating and a $208.00 target price on the stock. KeyCorp cut their target price on AvalonBay Communities from $275.00 to $237.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Wolfe Research raised AvalonBay Communities from a “peer perform” rating to an “outperform” rating and set a $292.00 price objective for the company in a research note on Wednesday, August 24th. UBS Group increased their target price on AvalonBay Communities from $209.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Scotiabank reduced their target price on AvalonBay Communities from $262.00 to $238.00 in a report on Thursday, May 19th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Moderate Buy” and an average target price of $241.60.

About AvalonBay Communities

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As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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