Cetera Investment Advisers Boosts Holdings in AvalonBay Communities, Inc. $AVB

Key Points

• Cetera Investment Advisers increased its AvalonBay Communities stake by 29% in the first quarter, adding 9,068 shares to hold 40,354 shares valued at $6.59 million. Institutional investors collectively own 92.61% of AVB.
• AvalonBay reported quarterly EPS of $1.11, below the $1.23 consensus estimate, while revenue of $777.77 million exceeded expectations. Analysts project full-year EPS of $11.31.
• The REIT declared a quarterly dividend of $1.78, equivalent to $7.12 annually and a 3.8% yield. Wall Street maintains a consensus “Hold” rating with an average price target of $196.80.

Cetera Investment Advisers raised its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,354 shares of the real estate investment trust's stock after acquiring an additional 9,068 shares during the period. Cetera Investment Advisers' holdings in AvalonBay Communities were worth $6,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of AvalonBay Communities during the fourth quarter worth $25,000. Clearstead Trust LLC boosted its position in shares of AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Zions Bancorporation National Association UT boosted its position in shares of AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA purchased a new position in AvalonBay Communities during the 3rd quarter worth $31,000. Finally, Elyxium Wealth LLC purchased a new position in AvalonBay Communities during the 4th quarter worth $32,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 1.0%

AvalonBay Communities stock opened at $185.82 on Friday. The business's 50-day simple moving average is $187.85 and its two-hundred day simple moving average is $179.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $26.40 billion, a PE ratio of 30.36, a PEG ratio of 3.23 and a beta of 0.77. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $198.63.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.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 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.31 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities's dividend payout ratio is 116.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AVB shares. Wells Fargo & Company reduced their target price on AvalonBay Communities from $193.00 to $191.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Royal Bank Of Canada raised their price target on AvalonBay Communities from $180.00 to $188.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 29th. UBS Group dropped their price target on AvalonBay Communities from $191.00 to $189.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Scotiabank upped their price objective on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a "sector perform" rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group raised shares of AvalonBay Communities to a "hold" rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $196.80.

About AvalonBay Communities

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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