MGO One Seven LLC lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,618 shares of the real estate investment trust’s stock after buying an additional 365 shares during the period. MGO One Seven LLC’s holdings in AvalonBay Communities were worth $533,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. CWM LLC increased its holdings in shares of AvalonBay Communities by 133.4% during the second quarter. CWM LLC now owns 4,323 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 2,471 shares in the last quarter. Advocate Group LLC increased its holdings in shares of AvalonBay Communities by 0.4% during the second quarter. Advocate Group LLC now owns 21,759 shares of the real estate investment trust’s stock worth $4,428,000 after buying an additional 92 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of AvalonBay Communities by 11.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,796 shares of the real estate investment trust’s stock worth $3,011,000 after buying an additional 1,531 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of AvalonBay Communities by 10.2% during the second quarter. Apollon Wealth Management LLC now owns 1,196 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 111 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of AvalonBay Communities during the second quarter worth $73,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.
AvalonBay Communities Stock Performance
Shares of AvalonBay Communities stock opened at $186.92 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $191.07 and a two-hundred day moving average price of $198.32. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a market cap of $26.61 billion, a P/E ratio of 23.02, a PEG ratio of 2.66 and a beta of 0.86.
AvalonBay Communities Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 86.21%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Piper Sandler restated a “neutral” rating and issued a $200.00 price objective (down from $255.00) on shares of AvalonBay Communities in a report on Monday, August 4th. Mizuho restated a “neutral” rating and issued a $199.00 price objective (down from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Cantor Fitzgerald initiated coverage on AvalonBay Communities in a report on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, Truist Financial upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and decreased their price objective for the company from $224.00 to $218.00 in a report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $217.31.
Read Our Latest Analysis on AvalonBay Communities
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.
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