OP Asset Management Ltd acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 14,641 shares of the real estate investment trust’s stock, valued at approximately $2,392,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVB. SG Americas Securities LLC grew its position in AvalonBay Communities by 96.7% in the 1st quarter. SG Americas Securities LLC now owns 159,728 shares of the real estate investment trust’s stock worth $26,092,000 after purchasing an additional 78,509 shares during the period. Evolve Private Wealth LLC bought a new position in shares of AvalonBay Communities during the 1st quarter valued at $237,000. Auto Owners Insurance Co lifted its holdings in shares of AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares during the period. Reflection Asset Management purchased a new position in shares of AvalonBay Communities in the 4th quarter worth $25,000. Finally, Tobam boosted its stake in shares of AvalonBay Communities by 850.2% in the 4th quarter. Tobam now owns 3,012 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 2,695 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on AVB shares. Morgan Stanley reiterated an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research report on Monday, June 1st. Truist Financial boosted their price target on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Barclays reduced their price target on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Royal Bank Of Canada increased their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus target price of $195.13.
AvalonBay Communities Stock Performance
AVB opened at $190.13 on Friday. The firm has a market cap of $26.45 billion, a P/E ratio of 27.56, a PEG ratio of 3.31 and a beta of 0.78. AvalonBay Communities, Inc. has a 1-year low of $160.10 and a 1-year high of $206.62. The company has a 50 day simple moving average of $182.76 and a two-hundred day simple moving average of $177.81. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62.
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The firm had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period last year, the company earned $2.83 earnings per share. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.
AvalonBay Communities Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is presently 103.19%.
AvalonBay Communities 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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