UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in AvalonBay Communities, Inc. $AVB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,928,458 shares of the real estate investment trust’s stock after purchasing an additional 188,306 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AvalonBay Communities were worth $363,881,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Mexico Educational Retirement Board increased its position in AvalonBay Communities by 9.2% during the 2nd quarter. New Mexico Educational Retirement Board now owns 7,127 shares of the real estate investment trust’s stock valued at $1,345,000 after buying an additional 600 shares in the last quarter. Mufg Securities Americas Inc. raised its stake in AvalonBay Communities by 6.8% in the second quarter. Mufg Securities Americas Inc. now owns 4,184 shares of the real estate investment trust’s stock valued at $789,000 after buying an additional 266 shares during the last quarter. Wellington Management Group LLP boosted its holdings in AvalonBay Communities by 46.4% in the second quarter. Wellington Management Group LLP now owns 883,856 shares of the real estate investment trust’s stock worth $166,775,000 after acquiring an additional 280,131 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of AvalonBay Communities during the second quarter worth about $531,000. Finally, RB Capital Management LLC acquired a new position in shares of AvalonBay Communities during the second quarter valued at about $1,185,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Barclays boosted their price objective on shares of AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. Piper Sandler upped their target price on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Three investment 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $196.87.

AvalonBay Communities Stock Performance

AVB opened at $184.06 on Monday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $198.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. 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 firm has a 50 day moving average of $188.02 and a two-hundred day moving average of $180.82.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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). The business had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period last year, the company earned $2.82 earnings per share. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 annualized dividend 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%.

AvalonBay Communities Profile

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.