NEOS Investment Management LLC Increases Stake in AvalonBay Communities, Inc. $AVB

NEOS Investment Management LLC increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,021 shares of the real estate investment trust’s stock after acquiring an additional 6,374 shares during the period. NEOS Investment Management LLC’s holdings in AvalonBay Communities were worth $10,005,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AVB. Reflection Asset Management purchased a new stake in shares of AvalonBay Communities during the 4th quarter valued at $25,000. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 56.0% in the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. Zions Bancorporation National Association UT grew its position in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the period. BOKF NA acquired a new stake in AvalonBay Communities during the third quarter worth about $31,000. Finally, Headlands Technologies LLC acquired a new stake in AvalonBay Communities during the second quarter worth about $36,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVB has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, August 19th. Scotiabank increased their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Piper Sandler raised their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. UBS Group reduced their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $184.06 on Friday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $198.63. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s fifty day moving average price is $187.99 and its 200 day moving average price is $181.04.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period in the previous year, the company earned $2.82 earnings per share. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.78 dividend. The ex-dividend date of this dividend 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 currently 116.34%.

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.