Danske Bank A S acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 125,868 shares of the real estate investment trust’s stock, valued at approximately $23,750,000.
Several other institutional investors have also recently modified their holdings of AVB. Clearstead Trust LLC grew its holdings in AvalonBay Communities by 56.0% during the 1st 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. Red Spruce Capital LLC increased its position in AvalonBay Communities by 0.8% during the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after buying an additional 60 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 60 shares during the last quarter. Keybank National Association OH raised its holdings in shares of AvalonBay Communities by 2.6% in the fourth 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. Finally, Arbor Capital Management Inc. ADV lifted 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 valued at $1,090,000 after acquiring an additional 90 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.
AvalonBay Communities Price Performance
AVB opened at $184.06 on Thursday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63. The business has a 50-day moving average of $187.75 and a two-hundred day moving average of $180.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76.
AvalonBay Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s payout ratio is currently 116.34%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on AVB shares. Wells Fargo & Company decreased their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada upped their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Barclays raised their price target on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Piper Sandler lifted their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.87.
Read Our Latest Research Report on AvalonBay Communities
About AvalonBay Communities
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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