New Age Alpha Advisors LLC Buys 3,432 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Key Points

• New Age Alpha Advisors LLC increased its stake in AvalonBay Communities, Inc. by 9.1%, acquiring an additional 3,432 shares during the first quarter, bringing its total holdings to 41,238 shares valued at approximately $8.85 million.
• AvalonBay Communities recently announced a quarterly dividend of $1.75 per share, resulting in an annualized dividend yield of 3.8%, with a payout ratio of 86.21%.
• Several analysts have revised their price targets for AvalonBay Communities, with consensus ratings indicating a "Hold" status and an average price target of $228.79.

New Age Alpha Advisors LLC grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,238 shares of the real estate investment trust's stock after buying an additional 3,432 shares during the period. New Age Alpha Advisors LLC's holdings in AvalonBay Communities were worth $8,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its holdings in AvalonBay Communities by 1.4% during the fourth quarter. Hsbc Holdings PLC now owns 604,010 shares of the real estate investment trust's stock worth $132,751,000 after buying an additional 8,439 shares during the last quarter. Achmea Investment Management B.V. lifted its holdings in shares of AvalonBay Communities by 33.5% during the 1st quarter. Achmea Investment Management B.V. now owns 23,068 shares of the real estate investment trust's stock valued at $4,951,000 after purchasing an additional 5,791 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of AvalonBay Communities by 4.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,476 shares of the real estate investment trust's stock valued at $10,404,000 after purchasing an additional 2,243 shares in the last quarter. Vert Asset Management LLC lifted its holdings in shares of AvalonBay Communities by 5.0% during the 1st quarter. Vert Asset Management LLC now owns 66,660 shares of the real estate investment trust's stock valued at $14,307,000 after purchasing an additional 3,199 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of AvalonBay Communities during the 4th quarter valued at about $568,000. Institutional investors own 92.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler reiterated a "neutral" rating and set a $200.00 price objective (down previously from $255.00) on shares of AvalonBay Communities in a report on Monday. Mizuho cut their price objective on AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Evercore ISI cut their price objective on AvalonBay Communities from $229.00 to $216.00 and set an "in-line" rating on the stock in a report on Monday. UBS Group cut their price objective on AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Finally, Morgan Stanley lifted their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and a consensus price target of $228.79.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the transaction, the chief financial officer owned 22,782 shares of the company's stock, valued at $4,728,859.74. The trade was a 20.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the transaction, the executive vice president directly owned 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

AvalonBay Communities Trading Down 0.9%

NYSE AVB opened at $182.70 on Tuesday. The stock has a market capitalization of $26.01 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 2.48 and a beta of 0.86. The stock's 50 day moving average price is $202.60 and its two-hundred day moving average price is $208.11. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29.

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

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders 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 3.8%. AvalonBay Communities's payout ratio is 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.

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