Wolverine Asset Management LLC Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Key Points

• Wolverine Asset Management LLC has acquired 3,748 shares of AvalonBay Communities, Inc. during the first quarter, valued at around $804,000, highlighting increased institutional interest in the stock.
• AvalonBay Communities recently declared a quarterly dividend of $1.75 per share, which translates to an annualized yield of 3.7% and indicates a strong dividend payout ratio of 86.21%.
• Wall Street analysts have mixed views on AvalonBay, with current consensus ratings of "Hold" and an average price target of $228.79, reflecting a cautious outlook amidst fluctuating stock prices.

Wolverine Asset Management LLC purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,748 shares of the real estate investment trust's stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVB. Baker Tilly Wealth Management LLC lifted its position in shares of AvalonBay Communities by 1.8% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust's stock valued at $697,000 after acquiring an additional 58 shares during the period. Golden State Equity Partners increased its stake in AvalonBay Communities by 3.7% in the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 60 shares in the last quarter. Roundview Capital LLC raised its holdings in shares of AvalonBay Communities by 1.7% during the first quarter. Roundview Capital LLC now owns 3,950 shares of the real estate investment trust's stock valued at $848,000 after purchasing an additional 66 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AvalonBay Communities by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,953 shares of the real estate investment trust's stock valued at $5,929,000 after purchasing an additional 72 shares during the period. Finally, Global X Japan Co. Ltd. boosted its position in shares of AvalonBay Communities by 24.9% during the 1st quarter. Global X Japan Co. Ltd. now owns 371 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 74 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVB. Royal Bank Of Canada decreased their target price on 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 issued a $200.00 price objective (down previously from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Barclays upped their target price on AvalonBay Communities from $240.00 to $241.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded AvalonBay Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Mizuho decreased their price target on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $228.79.

AvalonBay Communities Stock Down 0.8%

AVB opened at $186.74 on Friday. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The firm has a market capitalization of $26.59 billion, a P/E ratio of 23.00, a PEG ratio of 2.51 and a beta of 0.86. The company's 50-day moving average is $201.24 and its 200 day moving average is $207.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.51.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, beating 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 firm had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. During the same quarter last year, the business posted $2.77 EPS. Research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is 86.21%.

Insiders Place Their Bets

In other news, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the sale, the executive vice president directly owned 17,617 shares in the company, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin P. O'shea sold 6,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 22,782 shares in the company, valued at $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

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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