Artemis Investment Management LLP grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 277,635 shares of the real estate investment trust’s stock after purchasing an additional 18,173 shares during the quarter. Artemis Investment Management LLP owned approximately 0.20% of AvalonBay Communities worth $68,823,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $25,000. Rise Advisors LLC bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $30,000. Riverview Trust Co bought a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $32,000. Total Clarity Wealth Management Inc. bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $44,000. Finally, Covestor Ltd bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 90.98% of the company’s stock.
Several research analysts recently commented on the stock. Scotiabank reduced their price objective on shares of AvalonBay Communities from $262.00 to $238.00 in a research note on Thursday, May 19th. StockNews.com initiated coverage on shares of AvalonBay Communities in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. Truist Financial cut their price target on shares of AvalonBay Communities from $263.00 to $224.00 and set a “hold” rating on the stock in a research note on Friday, June 24th. Finally, Barclays dropped their price objective on shares of AvalonBay Communities from $263.00 to $229.00 in a report on Tuesday, May 10th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.28.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, June 29th. AvalonBay Communities’s payout ratio is 79.10%.
AvalonBay Communities Profile (Get Rating)
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").
- Get a free copy of the StockNews.com research report on AvalonBay Communities (AVB)
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