UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 188,306 Shares of AvalonBay Communities, Inc. $AVB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 owned about 1.35% of AvalonBay Communities worth $363,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. New Mexico Educational Retirement Board lifted its holdings in shares of AvalonBay Communities by 9.2% in the 2nd quarter. New Mexico Educational Retirement Board now owns 7,127 shares of the real estate investment trust’s stock worth $1,345,000 after buying an additional 600 shares during the period. Mufg Securities Americas Inc. increased its stake in shares of AvalonBay Communities by 6.8% during 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 period. Wellington Management Group LLP raised its holdings in shares of 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 valued at $166,775,000 after acquiring an additional 280,131 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of AvalonBay Communities in the second quarter valued at about $531,000. Finally, RB Capital Management LLC purchased a new stake in AvalonBay Communities in the second quarter worth about $1,185,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $184.06 on Monday. The stock’s 50-day moving average is $188.02 and its 200 day moving average is $180.82. AvalonBay Communities, Inc. has a 1-year low of $160.10 and a 1-year high of $198.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $26.28 billion, a P/E ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last announced 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 firm had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter in the prior year, the firm posted $2.82 earnings per share. Research analysts predict that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AVB shares. UBS Group dropped their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 19th. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Scotiabank lifted their price objective on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Finally, Piper Sandler boosted their price objective on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.