1832 Asset Management L.P. Has $18.53 Million Position in AvalonBay Communities, Inc. $AVB

1832 Asset Management L.P. grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,035 shares of the real estate investment trust’s stock after acquiring an additional 18,265 shares during the period. 1832 Asset Management L.P. owned 0.06% of AvalonBay Communities worth $18,526,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Groupe la Francaise grew its stake in AvalonBay Communities by 18.6% in the second quarter. Groupe la Francaise now owns 29,095 shares of the real estate investment trust’s stock valued at $5,896,000 after purchasing an additional 4,559 shares in the last quarter. Westerkirk Capital Inc. acquired a new stake in shares of AvalonBay Communities during the 2nd quarter valued at about $773,000. Portfolio Design Labs LLC acquired a new stake in shares of AvalonBay Communities during the 2nd quarter valued at about $525,000. Sun Life Financial Inc. grew its stake in shares of AvalonBay Communities by 1.3% in the 2nd quarter. Sun Life Financial Inc. now owns 152,427 shares of the real estate investment trust’s stock valued at $31,019,000 after buying an additional 2,000 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its stake in shares of AvalonBay Communities by 20.6% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,712 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 292 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Royal Bank Of Canada dropped their price target on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Evercore ISI reaffirmed an “in-line” rating and issued a $214.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 3rd. Piper Sandler decreased their price objective on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Finally, UBS Group lowered their target price on shares of AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.89.

AvalonBay Communities Stock Performance

NYSE AVB opened at $179.30 on Friday. The company’s fifty day moving average is $182.81 and its two-hundred day moving average is $192.89. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $231.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $25.39 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.99 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The company had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same quarter in the previous year, the business posted $2.74 EPS. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $1.75 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 85.47%.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.