Entropy Technologies LP Acquires New Stake in AvalonBay Communities, Inc. $AVB

Key Points

• Entropy Technologies LP acquired 9,138 AvalonBay Communities shares worth approximately $1.49 million in the first quarter. Institutional investors collectively own 92.61% of AVB’s outstanding stock.
• Analysts maintain a generally cautious outlook, with three Buy ratings and 15 Hold ratings; the consensus price target is $196.80 versus an opening price of $187.69.
• AvalonBay’s latest quarterly earnings missed expectations at $1.11 per share versus $1.23 forecast, although revenue exceeded estimates. The company pays a quarterly dividend of $1.78, equivalent to a 3.8% annualized yield.

Entropy Technologies LP acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,138 shares of the real estate investment trust's stock, valued at approximately $1,493,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVB. B&I Capital AG acquired a new stake in AvalonBay Communities during the first quarter worth approximately $11,194,000. Principal Financial Group Inc. raised its holdings in AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust's stock valued at $815,360,000 after acquiring an additional 383,983 shares during the last quarter. Duff & Phelps Investment Management Co. raised its holdings in AvalonBay Communities by 4.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 940,065 shares of the real estate investment trust's stock valued at $170,443,000 after acquiring an additional 40,216 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of AvalonBay Communities by 42.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust's stock worth $2,931,000 after purchasing an additional 4,820 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in shares of AvalonBay Communities by 1,325.6% during the 4th quarter. Evergreen Capital Management LLC now owns 25,375 shares of the real estate investment trust's stock worth $4,644,000 after purchasing an additional 23,595 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVB shares. Wolfe Research upgraded AvalonBay Communities from an "outperform" rating to an "outperform" rating and set a $209.00 price objective on the stock in a report on Monday, June 1st. Truist Financial upped their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Cantor Fitzgerald increased their target price on AvalonBay Communities from $186.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Weiss Ratings raised AvalonBay Communities from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Finally, Jefferies Financial Group upgraded AvalonBay Communities to a "hold" rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, AvalonBay Communities has an average rating of "Hold" and a consensus price target of $196.80.

AvalonBay Communities Trading Down 1.0%

Shares of AVB opened at $187.69 on Tuesday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $203.29. The firm has a market capitalization of $26.66 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 3.30 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock's fifty day simple moving average is $187.54 and its 200 day simple moving average is $179.46.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million for the quarter, compared to analysts' expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period last year, the firm posted $2.82 EPS. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities's dividend payout ratio is 103.19%.

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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