Mangrove Partners IM LLC Buys Shares of 5,702 AvalonBay Communities, Inc. $AVB

Mangrove Partners IM LLC bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the fourth quarter, Holdings Channel.com reports. The fund bought 5,702 shares of the real estate investment trust’s stock, valued at approximately $1,034,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT increased its position in AvalonBay Communities by 300.0% during 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 purchasing an additional 120 shares during the period. BOKF NA acquired a new stake in AvalonBay Communities during the 3rd quarter valued at approximately $31,000. Headlands Technologies LLC acquired a new stake in AvalonBay Communities during the 2nd quarter valued at approximately $36,000. Elyxium Wealth LLC acquired a new stake in AvalonBay Communities during the 4th quarter valued at approximately $32,000. Finally, Fulcrum Asset Management LLP acquired a new stake in AvalonBay Communities during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.64 on Wednesday. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.78. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $209.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $180.68 and a 200-day moving average of $177.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). The company had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period last year, the business earned $2.83 EPS. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.29 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.19%.

Wall Street Analyst Weigh In

AVB has been the subject of a number of recent analyst reports. Wolfe Research raised shares of 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. Barclays decreased their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Scotiabank reduced their price objective on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research report on Thursday, May 14th. Piper Sandler raised their price objective on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $195.13.

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.