Duff & Phelps Investment Management Co. Purchases 34,930 Shares of AvalonBay Communities, Inc. $AVB

Duff & Phelps Investment Management Co. raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 878,729 shares of the real estate investment trust’s stock after buying an additional 34,930 shares during the period. AvalonBay Communities makes up about 2.1% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 7th biggest holding. Duff & Phelps Investment Management Co.’s holdings in AvalonBay Communities were worth $178,821,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares during the period. Sound Income Strategies LLC lifted its position in shares of AvalonBay Communities by 76.4% during the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 81 shares in the last quarter. Keystone Global Partners LLC purchased a new position in shares of AvalonBay Communities in the first quarter valued at approximately $45,000. Zions Bancorporation National Association UT acquired a new position in shares of AvalonBay Communities in the first quarter valued at approximately $50,000. Finally, Capital Analysts LLC increased its stake in AvalonBay Communities by 48.5% during the 1st quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Truist Financial upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and reduced their price objective for the company from $224.00 to $218.00 in a research note on Thursday, September 11th. Scotiabank lowered their target price on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. UBS Group cut their price target on AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $214.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $209.35.

AvalonBay Communities Stock Up 0.4%

AVB stock opened at $177.74 on Monday. The stock has a market cap of $25.17 billion, a P/E ratio of 21.70, a PEG ratio of 2.54 and a beta of 0.84. 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 twelve month low of $166.73 and a twelve month high of $239.29. The company’s 50 day moving average is $186.66 and its two-hundred day moving average is $195.37.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. The company had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. During the same period last year, the business earned $2.74 earnings per share. Research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. AvalonBay Communities’s payout ratio is presently 85.47%.

AvalonBay Communities 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.