Figure 8 Investment Strategies LLC Makes New Investment in AvalonBay Communities, Inc. $AVB

Figure 8 Investment Strategies LLC purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,230 shares of the real estate investment trust’s stock, valued at approximately $798,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Reflection Asset Management bought a new position in AvalonBay Communities during the 4th quarter valued at $25,000. Clearstead Trust LLC increased its position 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 worth $25,000 after purchasing an additional 56 shares during the last quarter. Zions Bancorporation National Association UT increased its position in shares of AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $31,000. Finally, Headlands Technologies LLC acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $36,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $184.06 on Wednesday. The firm has a market capitalization 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. The business has a 50 day simple moving average of $187.80 and a 200 day simple moving average of $180.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $198.63.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The company had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same period in the prior year, the business earned $2.82 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

Analyst Ratings Changes

A number of equities analysts recently commented on AVB shares. Scotiabank lifted 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. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company reduced their target price on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler boosted their price target on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $196.87.

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.