B. Metzler seel. Sohn & Co. AG Purchases Shares of 10,381 AvalonBay Communities, Inc. $AVB

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 10,381 AvalonBay Communities shares during the second quarter, valued at approximately $1.96 million. Institutional investors and hedge funds collectively own 92.61% of AVB.
• Analysts maintain a predominantly cautious view, with 15 Hold ratings and three Buy ratings. The consensus price target is $196.87, compared with the stock’s reported price of $184.06.
• AvalonBay reported quarterly EPS of $1.11, below the $1.23 consensus estimate, while revenue of $777.77 million exceeded expectations. The REIT recently paid a $1.78 quarterly dividend, equivalent to a 3.9% annualized yield.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,381 shares of the real estate investment trust's stock, valued at approximately $1,959,000.

A number of other large investors also recently modified their holdings of AVB. B&I Capital AG acquired a new stake in shares of AvalonBay Communities in the 1st quarter valued at approximately $11,194,000. Principal Financial Group Inc. increased its holdings in 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 worth $815,360,000 after buying an additional 383,983 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in AvalonBay Communities during the first quarter worth $9,474,000. Pacer Advisors Inc. raised its position in 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 acquiring an additional 4,820 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in 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 acquiring an additional 19,789 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of analyst reports. Piper Sandler lifted 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. Truist Financial upped their target price on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Royal Bank Of Canada raised their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. Cantor Fitzgerald reiterated a "neutral" rating and set a $190.00 price target on shares of AvalonBay Communities in a report on Wednesday. Finally, Barclays lifted their price target on AvalonBay Communities from $205.00 to $206.00 and gave the stock an "equal weight" rating in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of "Hold" and a consensus price target of $196.87.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $184.06 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day simple moving average of $187.69 and a two-hundred day simple moving average of $180.42. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $198.63. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter in the prior year, the firm earned $2.82 earnings per share. Research analysts forecast that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

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

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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