Daiichi Life Insurance Co. Ltd. acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,723 shares of the real estate investment trust’s stock, valued at approximately $702,000.
A number of other hedge funds also recently bought and sold shares of the stock. Clearstead Trust LLC boosted its position 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 acquiring an additional 56 shares in the last quarter. Red Spruce Capital LLC raised its position in shares of AvalonBay Communities by 0.8% in the 2nd quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after acquiring an additional 60 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $649,000 after purchasing an additional 60 shares during the last quarter. Keybank National Association OH lifted its stake in shares of AvalonBay Communities by 2.6% during the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 62 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV boosted its position in AvalonBay Communities by 1.4% during 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 purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.
AvalonBay Communities Stock Performance
Shares of AVB opened at $184.06 on Tuesday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63. The stock has a fifty day moving average price of $187.68 and a 200-day moving average price of $180.53. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. The firm has a market cap of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.
AvalonBay Communities Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on AVB. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target for the company in a research report on Monday, June 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of AvalonBay Communities in a report on Wednesday, August 19th. Piper Sandler raised their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, Scotiabank lifted their price objective on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $196.87.
Read Our Latest Research Report on AVB
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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