JPMorgan Chase & Co. Has $818.65 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Key Points

• JPMorgan Chase & Co. increased its stake in AvalonBay Communities, owning approximately $818.65 million worth of shares after purchasing an additional 143,646 shares, reflecting a 3.9% increase in their position.
• AvalonBay Communities recently reported a quarterly earnings per share of $2.82, slightly surpassing analysts' expectations, but had revenue lower than anticipated at $689.90 million against a forecast of $759.08 million.
• The company announced a quarterly dividend of $1.75 per share, representing a yield of 3.7%, with a current dividend payout ratio of 86.21%.

JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,814,430 shares of the real estate investment trust's stock after buying an additional 143,646 shares during the quarter. JPMorgan Chase & Co. owned 2.68% of AvalonBay Communities worth $818,653,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVB. Proathlete Wealth Management LLC purchased a new position in AvalonBay Communities during the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 1st quarter valued at $33,000. Ancora Advisors LLC boosted its stake in shares of 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 valued at $35,000 after buying an additional 150 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of AvalonBay Communities during the 1st quarter valued at $50,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AvalonBay Communities during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 92.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVB. Royal Bank Of Canada cut their target price on shares of AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Piper Sandler reissued a "neutral" rating and set a $200.00 target price (down previously from $255.00) on shares of AvalonBay Communities in a research report on Monday, August 4th. Mizuho reissued a "neutral" rating and set a $199.00 target price (down previously from $213.00) on shares of AvalonBay Communities in a research report on Thursday. JPMorgan Chase & Co. cut their target price on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research report on Tuesday, June 17th. Finally, Evercore ISI cut their target price on shares of AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating for the company in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $225.64.

Insider Buying and Selling at AvalonBay Communities

In related news, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the transaction, the executive vice president owned 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the transaction, the chief financial officer directly 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. 0.45% of the stock is owned by corporate insiders.

AvalonBay Communities Stock Up 0.3%

Shares of AVB stock traded up $0.62 during trading hours on Friday, hitting $189.94. 137,184 shares of the company were exchanged, compared to its average volume of 815,103. The business has a 50 day moving average of $199.92 and a two-hundred day moving average of $206.62. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a market capitalization of $27.04 billion, a PE ratio of 23.40, a PEG ratio of 2.74 and a beta of 0.86.

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

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.75 per share. The ex-dividend date of this dividend 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 currently 86.21%.

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.