7,000 Shares in AvalonBay Communities, Inc. $AVB Acquired by Ally Financial Inc.

Ally Financial Inc. purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,000 shares of the real estate investment trust's stock, valued at approximately $1,321,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in AvalonBay Communities during the 2nd quarter valued at $3,368,659,000. Auto Owners Insurance Co boosted its position in AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust's stock valued at $213,677,000 after buying an additional 11,720,150 shares during the period. State Street Corp grew its holdings in AvalonBay Communities by 1.0% in the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust's stock worth $1,858,788,000 after acquiring an additional 92,467 shares during the last quarter. Norges Bank bought a new stake in AvalonBay Communities in the 4th quarter worth $1,394,635,000. Finally, JPMorgan Chase & Co. increased its position in shares of AvalonBay Communities by 22.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust's stock valued at $935,551,000 after acquiring an additional 944,129 shares during the period. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $184.06 on Monday. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $198.63. The firm has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The stock has a 50 day moving average price of $187.69 and a 200-day moving average price of $180.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analysts' expectations of $772.37 million. During the same quarter in the previous year, the business earned $2.82 EPS. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities's payout ratio is 116.34%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVB. UBS Group dropped their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. Scotiabank boosted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a "sector perform" rating in a report on Thursday, July 9th. Barclays increased their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the stock an "equal weight" rating in a report on Monday, August 17th. Piper Sandler lifted their price objective on AvalonBay Communities from $195.00 to $210.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada boosted their target price on AvalonBay Communities from $180.00 to $188.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $196.87.

AvalonBay Communities Company 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.

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