Commerce Bank Invests $6.46 Million in AvalonBay Communities, Inc. $AVB

Commerce Bank bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, Holdings Channel reports. The institutional investor bought 34,216 shares of the real estate investment trust’s stock, valued at approximately $6,456,000.

A number of other large investors have also recently bought and sold shares of the business. Reflection Asset Management purchased a new position in AvalonBay Communities during the 4th quarter worth $25,000. Clearstead Trust LLC raised its holdings in shares of AvalonBay Communities by 56.0% in the first 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 last quarter. Zions Bancorporation National Association UT raised its holdings in shares of AvalonBay Communities by 300.0% in the fourth 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 last quarter. BOKF NA acquired a new stake in shares of AvalonBay Communities during the third quarter worth about $31,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.06 on Monday. The business’s fifty day moving average price is $187.69 and its 200 day moving average price is $180.46. The firm has a market capitalization of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. AvalonBay Communities, Inc. has a 1-year low of $160.10 and a 1-year high of $198.63.

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

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid 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 dividend payout ratio is presently 116.34%.

Analysts Set New Price Targets

Several analysts have commented on AVB shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, August 19th. Truist Financial boosted their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Scotiabank increased their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Royal Bank Of Canada lifted their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $196.87.

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.