Deutsche Bank AG Buys New Shares in AvalonBay Communities, Inc. $AVB

Deutsche Bank AG acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 687,226 shares of the real estate investment trust's stock, valued at approximately $129,673,000. Deutsche Bank AG owned 0.48% of AvalonBay Communities as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Auto Owners Insurance Co raised its stake in shares of 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 last quarter. Norges Bank purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth about $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AvalonBay Communities by 15,065.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust's stock worth $326,552,000 after buying an additional 1,789,195 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of AvalonBay Communities by 76.0% in the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust's stock worth $455,077,000 after buying an additional 1,017,286 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in AvalonBay Communities by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust's stock worth $935,551,000 after acquiring an additional 944,129 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVB has been the subject of several recent research reports. Truist Financial lifted 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. Piper Sandler increased their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Wolfe Research upgraded shares of AvalonBay Communities from an "outperform" rating to an "outperform" rating and set a $209.00 price target on the stock in a research report on Monday, June 1st. Scotiabank lifted 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 upgraded shares of AvalonBay Communities to a "hold" rating in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $196.87.

AvalonBay Communities Stock Performance

Shares of AVB opened at $184.06 on Thursday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month 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 firm has a 50-day moving average price of $187.75 and a 200 day moving average price of $180.35. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results 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). The business had revenue of $777.77 million for the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period last year, the business earned $2.82 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $1.78 dividend. 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 dividend payout ratio (DPR) is presently 116.34%.

AvalonBay Communities 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source