J. Safra Sarasin Holding AG Acquires Shares of 3,749 AvalonBay Communities, Inc. $AVB

J. Safra Sarasin Holding AG bought a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the first quarter, HoldingsChannel.com reports. The fund bought 3,749 shares of the real estate investment trust’s stock, valued at approximately $611,000.

Other large investors also recently modified their holdings of the company. Reflection Asset Management acquired a new position in AvalonBay Communities during the 4th quarter worth $25,000. Zions Bancorporation National Association UT increased its stake in shares of AvalonBay Communities by 300.0% in 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 shares of AvalonBay Communities during the third quarter worth $31,000. Elyxium Wealth LLC bought a new stake in shares of AvalonBay Communities during the fourth quarter worth $32,000. Finally, Headlands Technologies LLC acquired a new position in shares of AvalonBay Communities during the second quarter valued at $36,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $190.39 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $27.05 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The stock has a 50-day moving average of $186.57 and a 200-day moving average of $178.97. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $205.00.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). The firm had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period in the previous year, the business earned $2.83 EPS. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a report on Friday, June 26th. Piper Sandler upped their target price on shares of AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company reduced their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Cantor Fitzgerald lifted their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Barclays reissued an “equal weight” rating and set a $205.00 price target (up from $203.00) on shares of AvalonBay Communities in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $195.80.

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.