Principal Financial Group Inc. Has $1.01 Billion Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Principal Financial Group Inc. raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,590,539 shares of the real estate investment trust’s stock after purchasing an additional 27,629 shares during the quarter. Principal Financial Group Inc. owned 3.23% of AvalonBay Communities worth $1,009,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock valued at $386,315,000 after acquiring an additional 1,494,872 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of AvalonBay Communities in the third quarter valued at about $581,960,000. State Street Corp increased its position in shares of AvalonBay Communities by 2.2% in the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock valued at $2,097,971,000 after acquiring an additional 196,938 shares during the last quarter. KBC Group NV increased its position in shares of AvalonBay Communities by 284.8% in the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust’s stock valued at $32,983,000 after acquiring an additional 108,371 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of AvalonBay Communities by 54.8% in the third quarter. BNP Paribas Financial Markets now owns 259,531 shares of the real estate investment trust’s stock valued at $58,459,000 after acquiring an additional 91,861 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.0 %

NYSE AVB opened at $217.97 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 1-year low of $172.85 and a 1-year high of $239.29. The company has a 50 day moving average of $219.58 and a 200-day moving average of $222.60. The company has a market cap of $31.00 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.53 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s payout ratio is presently 92.23%.

Analyst Ratings Changes

A number of equities analysts recently commented on AVB shares. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Barclays reduced their price target on AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Evercore ISI lifted their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday. Finally, Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.73.

About AvalonBay Communities

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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.