Vestmark Advisory Solutions Inc. Has $747,000 Stock Position in AvalonBay Communities, Inc. $AVB

Vestmark Advisory Solutions Inc. boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 51.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,672 shares of the real estate investment trust’s stock after buying an additional 1,254 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in AvalonBay Communities were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AVB. Sound Income Strategies LLC raised its holdings in shares of AvalonBay Communities by 76.4% in the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 81 shares during the period. Keystone Global Partners LLC bought a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $45,000. Zions Bancorporation National Association UT acquired a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $50,000. Capital Analysts LLC raised its stake in AvalonBay Communities by 48.5% in the 1st quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 80 shares during the period. Finally, Hilltop National Bank acquired a new stake in AvalonBay Communities during the 2nd quarter valued at $58,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and dropped their price objective for the company from $224.00 to $218.00 in a research report on Thursday, September 11th. UBS Group cut their price objective on shares of AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price objective on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $228.00 to $225.00 in a research note on Wednesday, August 13th. Finally, Mizuho restated a “neutral” rating and issued a $199.00 price target (down from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $209.54.

AvalonBay Communities Price Performance

AVB stock opened at $179.08 on Wednesday. The company’s 50-day moving average price is $187.59 and its two-hundred day moving average price is $196.02. The firm has a market cap of $25.50 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.54 and a beta of 0.84. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The company had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. During the same quarter in the previous year, the business posted $2.74 earnings per share. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.75 per share. The ex-dividend date was Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.9%. AvalonBay Communities’s payout ratio is currently 85.47%.

About AvalonBay Communities

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.