Fairtree Asset Management Pty Ltd bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,280 shares of the real estate investment trust’s stock, valued at approximately $619,000.
A number of other hedge funds have also bought and sold shares of the stock. PCM Encore LLC acquired a new stake in shares of AvalonBay Communities during the second quarter worth $250,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of AvalonBay Communities in the 2nd quarter valued at $2,994,000. NewEdge Wealth LLC purchased a new position in AvalonBay Communities in the 2nd quarter worth $1,438,000. Pacific Sun Financial Corp purchased a new position in AvalonBay Communities in the 2nd quarter worth $601,000. Finally, Danske Bank A S acquired a new stake in AvalonBay Communities during the 2nd quarter worth about $23,750,000. Institutional investors and hedge funds own 92.61% of the company’s stock.
AvalonBay Communities Price Performance
Shares of AvalonBay Communities stock opened at $184.06 on Friday. 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, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $187.74 and a 200 day moving average price of $180.40.
AvalonBay Communities Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.
Analyst Upgrades and Downgrades
AVB has been the topic of several research analyst reports. Barclays boosted their price target on AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank Of Canada lifted their target price on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Weiss Ratings lowered AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, UBS Group reduced their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. 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 stock has a consensus rating of “Hold” and a consensus target price of $196.87.
Check Out Our Latest Report on AVB
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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