3,280 Shares in AvalonBay Communities, Inc. $AVB Purchased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,280 shares of the real estate investment trust’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its position in shares of AvalonBay Communities by 5.7% during the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after purchasing an additional 148 shares in the last quarter. Guggenheim Capital LLC raised its holdings in AvalonBay Communities by 2.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 129 shares during the last quarter. Baird Financial Group Inc. purchased a new position in AvalonBay Communities in the 2nd quarter worth approximately $1,374,000. Cresset Asset Management LLC lifted its stake in AvalonBay Communities by 14.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 360 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of AvalonBay Communities by 9.5% during the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after purchasing an additional 1,629 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $184.06 on Friday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $187.74 and a 200-day simple moving average of $180.40. The stock has a market capitalization of $26.28 billion, a PE ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) 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 firm had revenue of $777.77 million for the quarter, compared to analyst estimates of $772.37 million. During the same period in the previous year, the company posted $2.82 EPS. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared 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 yield of 3.9%. AvalonBay Communities’s dividend payout ratio is 116.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AVB shares. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler upped their target price on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Royal Bank Of Canada raised their target price on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities 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.