Commerce Bank Purchases Shares of 34,216 AvalonBay Communities, Inc. $AVB

Commerce Bank acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,216 shares of the real estate investment trust’s stock, valued at approximately $6,456,000.

Several other hedge funds have also modified their holdings of the stock. Reflection Asset Management purchased a new stake in AvalonBay Communities during the 4th quarter worth about $25,000. Clearstead Trust LLC boosted its stake in shares of AvalonBay Communities by 56.0% in 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 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 acquired a new position in shares of AvalonBay Communities during the third quarter worth about $31,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $32,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $184.06 on Monday. The company 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 current ratio of 0.54, a quick 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 firm has a 50 day simple moving average of $187.69 and a 200-day simple moving average of $180.46.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The company 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 business earned $2.82 earnings per share. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company 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 dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 116.34%.

Analysts Set New Price Targets

AVB has been the subject of a number of recent research reports. Truist Financial lifted their price target 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. Royal Bank Of Canada lifted their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. UBS Group lowered 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 increased their target price on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, 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 report on Monday, June 1st. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $196.87.

AvalonBay Communities Company 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.