Readystate Asset Management LP Purchases New Stake in AvalonBay Communities, Inc. $AVB

Readystate Asset Management LP acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,483 shares of the real estate investment trust’s stock, valued at approximately $4,997,000.

Several other institutional investors also recently made changes to their positions in AVB. Figure 8 Investment Strategies LLC grew its stake in shares of AvalonBay Communities by 6.0% during the 2nd quarter. Figure 8 Investment Strategies LLC now owns 4,230 shares of the real estate investment trust’s stock worth $798,000 after purchasing an additional 241 shares during the period. HB Wealth Management LLC lifted its stake in shares of AvalonBay Communities by 34.2% in the second quarter. HB Wealth Management LLC now owns 3,853 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 981 shares during the period. Saudi Central Bank boosted its holdings in AvalonBay Communities by 86.3% during the second quarter. Saudi Central Bank now owns 9,738 shares of the real estate investment trust’s stock worth $1,837,000 after buying an additional 4,512 shares in the last quarter. Raiffeisen Bank International AG boosted its holdings in AvalonBay Communities by 278.9% during the second quarter. Raiffeisen Bank International AG now owns 288 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 212 shares in the last quarter. Finally, Syon Capital LLC grew its position in AvalonBay Communities by 46.0% during the second quarter. Syon Capital LLC now owns 1,958 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 617 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVB has been the subject of a number of research reports. Weiss Ratings downgraded shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a report on Monday, June 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of AvalonBay Communities in a research report on Wednesday, August 19th. Finally, Scotiabank upped their target price 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 analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $184.06 on Monday. The company has a market cap of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The business has a fifty day simple moving average of $187.99 and a 200-day simple moving average of $181.07. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last issued 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). The business had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period in the previous year, the business posted $2.82 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

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.