Narwhal Capital Management Increases Stake in AvalonBay Communities, Inc. $AVB

Key Points

• Narwhal Capital Management increased its stake in AvalonBay Communities, Inc. by 36.4% during the second quarter, now owning 53,912 shares valued at approximately $10.97 million.
• Analysts have mixed ratings on AvalonBay Communities, with an average "Hold" rating and a consensus target price of $217.46, while recent price objectives ranged from $199.00 to $226.00.
• AvalonBay Communities declared a quarterly dividend of $1.75 per share, with an annualized yield of 3.8%, set to be paid on October 15th.

Narwhal Capital Management lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 36.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,912 shares of the real estate investment trust's stock after purchasing an additional 14,397 shares during the quarter. AvalonBay Communities comprises about 0.9% of Narwhal Capital Management's portfolio, making the stock its 29th largest holding. Narwhal Capital Management's holdings in AvalonBay Communities were worth $10,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proathlete Wealth Management LLC acquired a new stake in shares of AvalonBay Communities in the first quarter worth $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities in the first quarter worth $33,000. Sound Income Strategies LLC increased its stake in shares of AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 81 shares during the period. Keystone Global Partners LLC acquired a new stake in shares of AvalonBay Communities in the first quarter worth $45,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of AvalonBay Communities in the first quarter worth $50,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Evercore ISI raised their price objective on shares of AvalonBay Communities from $212.00 to $216.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Wall Street Zen cut shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Scotiabank decreased their target price on shares of AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating for the company in a research note on Thursday, August 14th. Finally, Mizuho reiterated a "neutral" rating and issued a $199.00 target price (down from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $217.46.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $186.51 on Thursday. The firm has a market cap of $26.56 billion, a PE ratio of 22.97, a PEG ratio of 2.70 and a beta of 0.86. The firm has a fifty day moving average of $191.18 and a 200 day moving average of $199.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, topping the consensus estimate of $2.80 by $0.02. The company had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same quarter in the previous year, the firm earned $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 30th. AvalonBay Communities's payout ratio is presently 86.21%.

About AvalonBay Communities

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.

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