Plato Investment Management Ltd Purchases Shares of 3,004 AvalonBay Communities, Inc. $AVB

Plato Investment Management Ltd bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,004 shares of the real estate investment trust’s stock, valued at approximately $564,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Trust LLC increased its holdings 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 worth $25,000 after purchasing an additional 56 shares in the last quarter. Red Spruce Capital LLC lifted its holdings in shares of AvalonBay Communities by 0.8% in the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock valued at $1,507,000 after purchasing an additional 60 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares in the last quarter. Keybank National Association OH boosted its position in shares of AvalonBay Communities by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 62 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV boosted its position in shares of AvalonBay Communities by 1.4% during the first quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock valued at $1,090,000 after buying an additional 90 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Wednesday. The firm has a 50 day moving average price of $187.80 and a 200-day moving average price of $180.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last posted 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). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. During the same quarter in the previous year, the company posted $2.82 EPS. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AVB shares. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target for the company in a research report on Monday, June 1st. Scotiabank lifted their price objective on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. UBS Group reduced their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Piper Sandler raised their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Truist Financial boosted their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $196.87.

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.