OMERS ADMINISTRATION Corp Purchases New Stake in AvalonBay Communities, Inc. $AVB

OMERS ADMINISTRATION Corp purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, HoldingsChannel reports. The institutional investor purchased 7,520 shares of the real estate investment trust’s stock, valued at approximately $1,419,000.

Other institutional investors also recently bought and sold shares of the company. B&I Capital AG purchased a new position in AvalonBay Communities in the 1st quarter worth approximately $11,194,000. Principal Financial Group Inc. raised its stake in shares of AvalonBay Communities by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after purchasing an additional 383,983 shares during the period. Empyrean Capital Partners LP purchased a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $9,474,000. Pacer Advisors Inc. lifted its position in shares of AvalonBay Communities by 42.5% during the fourth quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust’s stock worth $2,931,000 after purchasing an additional 4,820 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AvalonBay Communities by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 408,956 shares of the real estate investment trust’s stock worth $73,808,000 after purchasing an additional 19,789 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $184.06 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $187.76 and its two-hundred day moving average is $180.67. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $198.63. The company has a market cap of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 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 during the quarter, compared to analyst estimates of $772.37 million. During the same quarter in the previous year, the business posted $2.82 EPS. On average, analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.9%. AvalonBay Communities’s payout ratio is presently 116.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVB shares. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Piper Sandler upped their price objective on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. UBS Group decreased their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Barclays raised their target price on AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $196.87.

About AvalonBay Communities

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.