Livforsakringsbolaget Skandia Omsesidigt bought a new position in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,791 shares of the real estate investment trust’s stock, valued at approximately $531,000.
Other hedge funds have also modified their holdings of the company. Reflection Asset Management purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $25,000. Clearstead Trust LLC boosted its stake in AvalonBay Communities by 56.0% in 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 in the last quarter. Zions Bancorporation National Association UT boosted its stake in AvalonBay Communities by 300.0% in 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 acquiring an additional 120 shares in the last quarter. BOKF NA purchased a new position in AvalonBay Communities in the third quarter worth $31,000. Finally, Headlands Technologies LLC acquired a new position in shares of AvalonBay Communities during the second quarter worth $36,000. 92.61% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities Stock Performance
Shares of NYSE AVB opened at $184.06 on Friday. The company has a 50 day simple moving average of $188.02 and a two-hundred day simple moving average of $180.77. The stock has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63.
AvalonBay Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 116.34%.
Wall Street Analyst Weigh In
Several analysts have recently commented on AVB shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of AvalonBay Communities in a report on Wednesday, August 19th. Truist Financial upped their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. UBS Group lowered their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Scotiabank boosted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. Finally, Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective on the stock in a report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $196.87.
Read Our Latest Report on AvalonBay Communities
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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