Pallas Capital Advisors LLC Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Pallas Capital Advisors LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,829 shares of the real estate investment trust’s stock after purchasing an additional 933 shares during the period. Pallas Capital Advisors LLC’s holdings in AvalonBay Communities were worth $3,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in AvalonBay Communities during the fourth quarter worth $1,499,050,000. Price T Rowe Associates Inc. MD raised its holdings in shares of AvalonBay Communities by 35.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares during the period. Principal Financial Group Inc. raised its holdings in shares of AvalonBay Communities by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust’s stock worth $1,009,781,000 after purchasing an additional 27,629 shares during the period. Geode Capital Management LLC lifted its position in shares of AvalonBay Communities by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust’s stock worth $810,470,000 after buying an additional 107,655 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its holdings in AvalonBay Communities by 25.7% in the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust’s stock worth $688,527,000 after acquiring an additional 639,402 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.2%

AVB stock opened at $203.30 on Monday. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $203.25 and its 200-day moving average is $214.12. The firm has a market cap of $28.94 billion, a P/E ratio of 26.79, a P/E/G ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. The business had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same quarter in the previous year, the firm earned $2.70 EPS. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.75 per share. The ex-dividend date is Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.44%. AvalonBay Communities’s dividend payout ratio is 87.17%.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of analyst reports. Mizuho dropped their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Truist Financial raised their target price on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Scotiabank raised their target price on shares of AvalonBay Communities from $241.00 to $251.00 and gave the stock a “sector perform” rating in a report on Monday, May 12th. Wall Street Zen downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. Finally, Morgan Stanley boosted their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $237.86.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.