Serity Partners LLC acquired AvalonBay Communities, Inc. during the second quarter. (NYSE: AVB – Avail Ratings), according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,284 shares of the real estate investment trust’s stock, valued at approximately $250,000.
Other institutional investors and hedge funds have also changed their positions in the company. Anson Funds Management LP purchased a new stake in shares of AvalonBay Communities worth $52,000 in the first quarter. Brown Brothers Harriman & Company purchased a new stake in shares of AvalonBay Communities worth $69,000 in the first quarter. Sandy Cove Advisors LLC purchased a new stake in shares of AvalonBay Communities valued at $70,000 in the first quarter. Clear Street Markets LLC boosted its position in shares of AvalonBay Communities to 414.0% in the second quarter. Clear Street Markets LLC now owns 293 shares of the real estate investment trust valued at $57,000 after acquiring an additional 236 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of AvalonBay Communities valued at $58,000 in the second quarter. 88.57% of the stock is currently held by hedge funds and other institutional investors.
AvalonBay Community Value Display
AVB stock opened Tuesday at $168.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.20 and a current ratio of 1.20. Avalonbay Communities, Inc. The 1-Year Low is $158.35 and the 1-Year High is $259.05. The firm has a market cap of $23.60 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.07, and a beta of 0.88. The stock has a 50-day simple moving average of $177.91 and a 200-day simple moving average of $193.77.
AvalonBay Community Dividend Declaration
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record will be paid a dividend of $1.59 per share on Friday, December 30. The ex-dividend date is Thursday, December 29. This represents a $6.36 dividend and a yield of 3.77% on an annualized basis. The Dividend Payout Ratio (DPR) of Avalonbay Communities currently stands at 72.36%.
Wall Street analysts weigh in
Several brokerages have recently issued reports on AVB. StockNews.com began coverage on AvalonBay Communities in a research report on Wednesday, October 12. He issued a “Hold” rating on the stock. Royal Bank of Canada cut their target price on AvalonBay Communities from $210.00 to $196.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 8. Evercore ISI decreased their target price on AvalonBay Communities to $205.00 in a research report on Thursday, October 13. Truest Financial increased their target price on AvalonBay Communities to $228.00 in a research report on Tuesday, August 23. Finally, Citigroup raised its target price on AvalonBay Communities to $220.00 in a research report on Tuesday, August 9. One equity research analyst has rated the stock with a Sell rating, eleven have a Hold rating and eight have issued a Buy rating on the company. According to Marketbeat, the company has an average rating of “Hold” and an average target price of $227.45.
Avalonbay Communities Company Profile
As of December 31, 2020, the Company held direct or indirect ownership interests in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in major metropolitan areas in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. , as well as the Company’s expansion markets include Southeast Florida and Denver, Colorado (“Expansion Markets”).
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