RB Capital Management LLC Buys New Stake in AvalonBay Communities, Inc. $AVB

RB Capital Management LLC purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,278 shares of the real estate investment trust’s stock, valued at approximately $1,185,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVB. Clearstead Trust LLC boosted its stake in 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 acquiring an additional 56 shares in the last quarter. Red Spruce Capital LLC grew its holdings in shares of AvalonBay Communities by 0.8% during the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after purchasing an additional 60 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of AvalonBay Communities by 1.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 60 shares in the last quarter. Keybank National Association OH increased 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 worth $446,000 after purchasing an additional 62 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV lifted its holdings in shares of AvalonBay Communities by 1.4% in the 1st 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 purchasing an additional 90 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research report on Monday, June 1st. Truist Financial lifted their price target on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. UBS Group reduced their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Weiss Ratings downgraded AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Scotiabank increased their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $196.87.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $184.06 on Friday. The company has a 50-day simple moving average of $188.02 and a 200-day simple moving average of $180.77. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business earned $2.82 EPS. On average, analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) 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.