AvalonBay Communities, Inc. $AVB Shares Bought by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 373.7% during the third quarter, Holdings Channel reports. The institutional investor owned 90,000 shares of the real estate investment trust’s stock after buying an additional 71,000 shares during the quarter. AvalonBay Communities makes up approximately 1.2% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 12th largest position. Quinn Opportunity Partners LLC’s holdings in AvalonBay Communities were worth $17,385,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AVB. Empowered Funds LLC raised its position in AvalonBay Communities by 5.7% in the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after acquiring an additional 148 shares in the last quarter. Savant Capital LLC boosted its position in shares of AvalonBay Communities by 11.4% during the 2nd quarter. Savant Capital LLC now owns 1,482 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 152 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of AvalonBay Communities during the 2nd quarter valued at about $246,000. Allworth Financial LP grew its stake in shares of AvalonBay Communities by 639.6% in the 2nd quarter. Allworth Financial LP now owns 6,457 shares of the real estate investment trust’s stock worth $1,314,000 after purchasing an additional 5,584 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of AvalonBay Communities by 0.7% in the 2nd quarter. National Pension Service now owns 220,272 shares of the real estate investment trust’s stock worth $44,825,000 after purchasing an additional 1,572 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AVB shares. Cantor Fitzgerald increased their target price on shares of AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft cut AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a report on Tuesday, January 20th. Barclays cut their price objective on AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research report on Friday, March 6th. Truist Financial decreased their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $199.66.

AvalonBay Communities Stock Down 1.2%

AVB stock opened at $168.91 on Friday. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $217.32. The company’s 50 day simple moving average is $177.26 and its 200-day simple moving average is $182.20. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $23.66 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.00 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The firm had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same quarter last year, the business posted $2.80 EPS. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, March 31st. AvalonBay Communities’s payout ratio is 85.47%.

About AvalonBay Communities

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.