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AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Asset Management One Co. Ltd.

AvalonBay Communities logo with Finance background

Asset Management One Co. Ltd. boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 287,040 shares of the real estate investment trust's stock after buying an additional 6,269 shares during the quarter. Asset Management One Co. Ltd. owned 0.20% of AvalonBay Communities worth $61,605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Narwhal Capital Management raised its holdings in shares of AvalonBay Communities by 607.3% during the first quarter. Narwhal Capital Management now owns 39,515 shares of the real estate investment trust's stock worth $8,481,000 after purchasing an additional 33,928 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new position in shares of AvalonBay Communities during the 1st quarter valued at approximately $1,272,000. Oppenheimer Asset Management Inc. raised its position in shares of AvalonBay Communities by 6.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,555 shares of the real estate investment trust's stock worth $1,621,000 after acquiring an additional 476 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of AvalonBay Communities by 27.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,744 shares of the real estate investment trust's stock valued at $589,000 after purchasing an additional 599 shares in the last quarter. Finally, Inlight Wealth Management LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $62,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVB shares. Barclays boosted their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wall Street Zen upgraded shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Scotiabank lowered their price objective on AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. Piper Sandler reduced their target price on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Royal Bank Of Canada decreased their target price on AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $235.86.

Get Our Latest Stock Analysis on AvalonBay Communities

Insider Buying and Selling

In other news, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the completion of the transaction, the executive vice president now directly owns 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin P. O'shea sold 6,000 shares of AvalonBay Communities stock in a transaction on Monday, June 16th. The shares were sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the sale, the chief financial officer now directly owns 22,782 shares of the company's stock, valued at $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

AvalonBay Communities Trading Up 0.1%

AvalonBay Communities stock traded up $0.23 during mid-day trading on Friday, hitting $204.36. The company's stock had a trading volume of 1,483,556 shares, compared to its average volume of 740,957. The stock's fifty day moving average is $205.68 and its two-hundred day moving average is $211.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $29.09 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.74 and a beta of 0.86. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same period in the prior year, the business posted $2.70 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $1.75 per share. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.43%. AvalonBay Communities's payout ratio is currently 87.17%.

AvalonBay Communities Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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