Atria Investments LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 45.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,885 shares of the real estate investment trust’s stock after purchasing an additional 2,480 shares during the period. Atria Investments LLC’s holdings in AvalonBay Communities were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in AvalonBay Communities by 6.4% in the first quarter. Signaturefd LLC now owns 779 shares of the real estate investment trust’s stock worth $193,000 after acquiring an additional 47 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in AvalonBay Communities by 33.8% in the first quarter. Illinois Municipal Retirement Fund now owns 4,952 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 1,251 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in AvalonBay Communities by 66.6% in the first quarter. Park Avenue Securities LLC now owns 1,398 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 559 shares in the last quarter. Toews Corp ADV acquired a new stake in AvalonBay Communities in the first quarter worth about $397,000. Finally, Nisa Investment Advisors LLC acquired a new stake in AvalonBay Communities in the first quarter worth about $20,946,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.
Analyst Upgrades and Downgrades
AVB has been the subject of several recent analyst reports. Mizuho lowered their price target on AvalonBay Communities from $260.00 to $212.00 and set a “buy” rating for the company in a report on Monday, June 27th. KeyCorp decreased their target price on AvalonBay Communities from $275.00 to $237.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. Piper Sandler decreased their target price on AvalonBay Communities from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, July 20th. Scotiabank decreased their target price on AvalonBay Communities from $262.00 to $238.00 in a report on Thursday, May 19th. Finally, StockNews.com started coverage on AvalonBay Communities in a report on Thursday, March 31st. They set a “hold” rating for the company. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $240.50.
AvalonBay Communities Trading Up 1.1 %
AvalonBay Communities Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, June 29th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 79.10%.
About AvalonBay Communities
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").
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