The Manufacturers Life Insurance Company acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 84,180 shares of the real estate investment trust’s stock, valued at approximately $15,884,000.
Several other large investors have also bought and sold shares of the company. Reflection Asset Management purchased a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $25,000. Clearstead Trust LLC lifted its stake in shares of AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 56 shares during the period. Zions Bancorporation National Association UT boosted its position in shares of AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA purchased a new stake in AvalonBay Communities in the third quarter worth $31,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities in the fourth quarter worth $32,000. 92.61% of the stock is owned by institutional investors.
AvalonBay Communities Stock Performance
NYSE AVB opened at $184.06 on Friday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63. 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 stock’s fifty day moving average price is $188.02 and its 200-day moving average price is $180.77. The stock has a market cap of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.
AvalonBay Communities Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s payout ratio is 116.34%.
Wall Street Analysts Forecast Growth
AVB has been the subject of several recent research reports. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler increased their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. 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. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus price target of $196.87.
View Our Latest Stock 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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