AvalonBay Communities, Inc. $AVB Holdings Raised by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in AvalonBay Communities by 4.2%, owning over 2.59 million shares worth approximately $556.74 million.
• AvalonBay has received multiple downgrades from analysts, with current price targets ranging from $200 to $226, and a consensus rating of "Hold."
• The company reported quarterly earnings of $2.82 per share, surpassing expectations, alongside a recent quarterly dividend of $1.75, yielding 3.7% annually.

Wellington Management Group LLP grew its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,594,073 shares of the real estate investment trust's stock after acquiring an additional 105,098 shares during the quarter. Wellington Management Group LLP owned approximately 1.82% of AvalonBay Communities worth $556,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Proathlete Wealth Management LLC bought a new stake in shares of AvalonBay Communities in the 1st quarter valued at approximately $29,000. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities during the 1st quarter worth $33,000. Ancora Advisors LLC grew its stake in AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 150 shares during the last quarter. Keystone Global Partners LLC bought a new position in AvalonBay Communities during the 1st quarter worth $45,000. Finally, Zions Bancorporation National Association UT bought a new position in AvalonBay Communities during the 1st quarter worth $50,000. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of recent research reports. Piper Sandler restated a "neutral" rating and set a $200.00 price objective (down from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Royal Bank Of Canada lowered their price objective on AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Scotiabank lowered their price objective on AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating for the company in a research note on Thursday, August 14th. Evercore ISI lowered their price objective on AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating for the company in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lowered their price objective on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research note on Tuesday, June 17th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $225.64.

AvalonBay Communities Trading Down 1.1%

Shares of AVB stock opened at $188.43 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29. The stock has a fifty day moving average of $199.29 and a two-hundred day moving average of $206.03. The firm has a market capitalization of $26.83 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.73 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.02. The business had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%. During the same quarter in the prior year, the firm posted $2.77 earnings per share. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $1.75 dividend. The ex-dividend date was Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities's dividend payout ratio is 86.21%.

Insider Buying and Selling at AvalonBay Communities

In other news, EVP Edward M. Schulman sold 5,945 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the sale, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin P. O'shea sold 6,000 shares of the company's 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 owned 22,782 shares of the company's stock, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

AvalonBay Communities Company 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.

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