OMERS ADMINISTRATION Corp acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,520 shares of the real estate investment trust’s stock, valued at approximately $1,419,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Reflection Asset Management acquired a new position in shares of AvalonBay Communities in the fourth quarter worth $25,000. Clearstead Trust LLC boosted its stake 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 acquiring an additional 56 shares during the last quarter. Zions Bancorporation National Association UT increased its position in AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA purchased a new stake in AvalonBay Communities during the 3rd quarter worth about $31,000. Finally, Elyxium Wealth LLC acquired a new position in AvalonBay Communities in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Piper Sandler upped their target price 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. Weiss Ratings downgraded shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. UBS Group cut their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, August 19th. Finally, Scotiabank raised their target price 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 analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $196.87.
AvalonBay Communities Stock Performance
Shares of AVB stock opened at $184.06 on Thursday. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The company has a 50 day moving average price of $187.76 and a 200 day moving average price of $180.67. The firm 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 (NYSE:AVB – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The company had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter last year, the business earned $2.82 EPS. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.
AvalonBay Communities Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s payout ratio is 116.34%.
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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