Ramirez Asset Management Inc. Purchases 5,000 Shares of AvalonBay Communities, Inc. $AVB

Key Points

• Ramirez Asset Management Inc. significantly increased its stake in AvalonBay Communities, acquiring an additional 5,000 shares, raising its ownership to 11,541 shares valued at approximately $2.35 million.
• AvalonBay Communities recently declared a quarterly dividend of $1.75, translating to an annual yield of 3.8%, with a payout ratio of 86.21%.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a target price of $217.46, while some brokerages reduced their price targets recently.

Ramirez Asset Management Inc. raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 76.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,541 shares of the real estate investment trust's stock after acquiring an additional 5,000 shares during the period. Ramirez Asset Management Inc.'s holdings in AvalonBay Communities were worth $2,349,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Callan Family Office LLC bought a new position in AvalonBay Communities during the 2nd quarter valued at $481,000. Blair William & Co. IL lifted its stake in AvalonBay Communities by 7.2% during the 2nd quarter. Blair William & Co. IL now owns 9,433 shares of the real estate investment trust's stock valued at $1,920,000 after acquiring an additional 634 shares in the last quarter. Tectonic Advisors LLC lifted its stake in AvalonBay Communities by 11.3% during the 2nd quarter. Tectonic Advisors LLC now owns 2,362 shares of the real estate investment trust's stock valued at $481,000 after acquiring an additional 240 shares in the last quarter. Vontobel Holding Ltd. bought a new position in AvalonBay Communities during the 2nd quarter valued at $19,617,000. Finally, Maryland State Retirement & Pension System lifted its stake in AvalonBay Communities by 4.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 6,912 shares of the real estate investment trust's stock valued at $1,407,000 after acquiring an additional 281 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVB. Scotiabank dropped their price objective on AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 14th. Mizuho restated a "neutral" rating and set a $199.00 price objective (down from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Cantor Fitzgerald started coverage on AvalonBay Communities in a research note on Wednesday, October 1st. They set a "neutral" rating and a $205.00 target price on the stock. Truist Financial upgraded AvalonBay Communities from a "hold" rating to a "buy" rating and lowered their target price for the stock from $224.00 to $218.00 in a research note on Thursday, September 11th. Finally, Barclays lifted their target price on AvalonBay Communities from $228.00 to $229.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $217.46.

AvalonBay Communities Trading Down 0.3%

Shares of AvalonBay Communities stock opened at $185.83 on Friday. AvalonBay Communities, Inc. has a 52-week low of $180.40 and a 52-week high of $239.29. The stock's 50-day simple moving average is $191.17 and its 200 day simple moving average is $199.51. The stock has a market capitalization of $26.46 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.69 and a beta of 0.86. 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 (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.02. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%.The business had revenue of $689.90 million for the quarter, compared to analysts' expectations of $759.08 million. During the same period in the previous year, the business posted $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 anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 30th. AvalonBay Communities's payout ratio is currently 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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