Kintayl Capital LP Takes $7.15 Million Position in AvalonBay Communities, Inc. $AVB

Kintayl Capital LP purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,889 shares of the real estate investment trust’s stock, valued at approximately $7,149,000. AvalonBay Communities makes up approximately 2.8% of Kintayl Capital LP’s portfolio, making the stock its 8th largest holding.

Several other large investors have also recently added to or reduced their stakes in AVB. BlackRock Inc. acquired a new position in AvalonBay Communities in the second quarter worth $3,368,659,000. Auto Owners Insurance Co increased its stake in AvalonBay Communities by 18,031.0% during the fourth quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after purchasing an additional 11,720,150 shares during the last quarter. State Street Corp raised its holdings in shares of AvalonBay Communities by 1.0% during the third quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after purchasing an additional 92,467 shares during the period. Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth $1,394,635,000. Finally, JPMorgan Chase & Co. lifted its position in shares of AvalonBay Communities by 22.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock worth $935,551,000 after buying an additional 944,129 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AVB shares. Scotiabank lifted their price target on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Barclays increased their price objective on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Truist Financial upped their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Stock Performance

AVB stock opened at $184.06 on Wednesday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $198.63. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The stock’s fifty day moving average is $187.67 and its two-hundred day moving average is $180.57.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $772.37 million. During the same quarter in the prior year, the company posted $2.82 EPS. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio is 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.