Texas Yale Capital Corp. Grows Stock Position in AvalonBay Communities, Inc. $AVB

Texas Yale Capital Corp. lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,865 shares of the real estate investment trust’s stock after buying an additional 612 shares during the quarter. Texas Yale Capital Corp.’s holdings in AvalonBay Communities were worth $2,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVB. Sound Income Strategies LLC boosted its position in AvalonBay Communities by 76.4% in the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 81 shares in the last quarter. Keystone Global Partners LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $45,000. Zions Bancorporation National Association UT purchased a new stake in AvalonBay Communities during the first quarter worth $50,000. Capital Analysts LLC grew its position in AvalonBay Communities by 48.5% during the first quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 80 shares during the period. Finally, Hilltop National Bank purchased a new position in AvalonBay Communities in the second quarter valued at $58,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Mizuho reaffirmed a “neutral” rating and issued a $199.00 price target (down previously from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. Piper Sandler cut their price objective on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Wells Fargo & Company reduced their target price on AvalonBay Communities from $244.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $212.92.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $177.29 on Friday. The stock has a market capitalization of $25.24 billion, a P/E ratio of 21.65, a PEG ratio of 2.54 and a beta of 0.84. The business has a 50 day simple moving average of $188.17 and a two-hundred day simple moving average of $196.56. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $239.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.The firm had revenue of $766.80 million for the quarter, compared to analysts’ expectations of $766.22 million. During the same quarter in the previous year, the firm posted $2.74 earnings per share. As a group, analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, September 30th. AvalonBay Communities’s dividend payout ratio is 85.47%.

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