Quinn Opportunity Partners LLC Lowers Position in AvalonBay Communities, Inc. $AVB

Quinn Opportunity Partners LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 17.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,000 shares of the real estate investment trust’s stock after selling 4,000 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in AvalonBay Communities were worth $3,866,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVB. Allworth Financial LP raised its stake in shares of AvalonBay Communities by 14.7% in the first quarter. Allworth Financial LP now owns 873 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 112 shares during the period. Edgestream Partners L.P. boosted its holdings in AvalonBay Communities by 954.9% during the 1st quarter. Edgestream Partners L.P. now owns 26,224 shares of the real estate investment trust’s stock valued at $5,628,000 after acquiring an additional 23,738 shares during the period. Larson Financial Group LLC increased its stake in AvalonBay Communities by 30.0% in the first quarter. Larson Financial Group LLC now owns 2,499 shares of the real estate investment trust’s stock worth $536,000 after purchasing an additional 577 shares during the period. Tectonic Advisors LLC lifted its position in shares of AvalonBay Communities by 3.9% during the first quarter. Tectonic Advisors LLC now owns 2,122 shares of the real estate investment trust’s stock worth $456,000 after purchasing an additional 80 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of AvalonBay Communities by 0.5% during the first quarter. Victory Capital Management Inc. now owns 151,538 shares of the real estate investment trust’s stock valued at $32,523,000 after purchasing an additional 734 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVB shares. Barclays raised their price target on AvalonBay Communities from $228.00 to $229.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 30th. Morgan Stanley raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $228.00 to $225.00 in a report on Wednesday, August 13th. Piper Sandler reduced their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. UBS Group cut their price objective on AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a report on Monday. Finally, BNP Paribas Exane lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Five equities research 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 stock presently has a consensus rating of “Hold” and a consensus target price of $209.54.

AvalonBay Communities Price Performance

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

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 analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.During the same period last year, the business earned $2.74 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

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