Healthcare of Ontario Pension Plan Trust Fund boosted its position in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 22.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,300 shares of the real estate investment trust’s stock after buying an additional 3,310 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AvalonBay Communities were worth $2,989,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in AVB. Clearstead Trust LLC boosted its position in shares of AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of AvalonBay Communities by 1.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares in the last quarter. Keybank National Association OH increased its stake in AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 62 shares during the last quarter. Arbor Capital Management Inc. ADV increased its position in shares of AvalonBay Communities by 1.4% in the first quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock worth $1,090,000 after purchasing an additional 90 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its position in shares of AvalonBay Communities by 5.7% during the 4th quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 92 shares in the last quarter. 92.61% of the stock is owned by institutional investors.
AvalonBay Communities Stock Performance
Shares of AVB opened at $187.82 on Friday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63. The business’s fifty day simple moving average is $187.85 and its two-hundred day simple moving average is $179.65. The company has a market cap of $26.68 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 3.35 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.
AvalonBay Communities Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is 116.34%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on AVB. Truist Financial raised their price objective on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised AvalonBay Communities from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a report on Monday, June 1st. Finally, Cantor Fitzgerald boosted their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $196.80.
Read Our Latest Stock Report on AvalonBay Communities
AvalonBay Communities Company Profile
AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.
AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.
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