Plato Investment Management Ltd Makes New $564,000 Investment in AvalonBay Communities, Inc. $AVB

Plato Investment Management Ltd acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 3,004 shares of the real estate investment trust’s stock, valued at approximately $564,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Reflection Asset Management purchased a new position in AvalonBay Communities in the 4th quarter worth approximately $25,000. Clearstead Trust LLC boosted its position in AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares during the period. Zions Bancorporation National Association UT boosted its position in AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the period. BOKF NA bought a new stake in AvalonBay Communities in the 3rd quarter worth $31,000. Finally, Elyxium Wealth LLC bought a new position in shares of AvalonBay Communities during the fourth quarter valued at about $32,000. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AVB. Scotiabank upped their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research report on Wednesday, July 22nd. Piper Sandler upped their price objective on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings cut shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Barclays increased their price target on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $196.87.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $184.06 on Wednesday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The business’s fifty day simple moving average is $187.80 and its two-hundred day simple moving average is $180.28. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter in the previous year, the firm earned $2.82 EPS. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s payout ratio is 116.34%.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.