Empyrean Capital Partners LP Takes Position in AvalonBay Communities, Inc. $AVB

Empyrean Capital Partners LP bought a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 58,000 shares of the real estate investment trust’s stock, valued at approximately $9,474,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVB. Clearstead Trust LLC raised its stake in shares of AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of AvalonBay Communities by 1.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 60 shares in the last quarter. Keybank National Association OH boosted its position in shares of AvalonBay Communities by 2.6% during the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 62 shares in the last quarter. Arbor Capital Management Inc. ADV boosted its position in shares of AvalonBay Communities by 1.4% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock valued at $1,090,000 after acquiring an additional 90 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its stake in AvalonBay Communities by 5.7% in the fourth quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after acquiring an additional 92 shares during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.0%

Shares of NYSE:AVB opened at $187.69 on Tuesday. The company’s fifty day moving average is $187.54 and its 200-day moving average is $179.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $203.29. The company has a market capitalization of $26.66 billion, a PE ratio of 27.20, a P/E/G ratio of 3.30 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, July 22nd. 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). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The firm had revenue of $777.77 million for the quarter, compared to analyst estimates of $772.37 million. During the same quarter last year, the business earned $2.82 EPS. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is currently 103.19%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AVB shares. Cantor Fitzgerald increased their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. UBS Group decreased their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Scotiabank upped their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Truist Financial increased their target price on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company dropped their target price on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Three 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 presently has a consensus rating of “Hold” and an average target price of $196.80.

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.