Jupiter Topco LLC Invests $6.79 Million in AvalonBay Communities, Inc. $AVB

Jupiter Topco LLC acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,937 shares of the real estate investment trust’s stock, valued at approximately $6,785,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. Reflection Asset Management acquired a new position in AvalonBay Communities during the 4th quarter worth about $25,000. Clearstead Trust LLC grew its position in 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 acquiring an additional 56 shares in the last quarter. Zions Bancorporation National Association UT increased its stake in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the period. BOKF NA purchased a new stake in AvalonBay Communities during the third quarter worth about $31,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB stock opened at $184.06 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization 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’s 50-day moving average is $188.02 and its two-hundred day moving average is $180.82. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $198.63.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The company had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. During the same quarter in the previous year, the business posted $2.82 EPS. Analysts anticipate that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. AvalonBay Communities’s payout ratio is currently 116.34%.

Analysts Set New Price Targets

AVB has been the subject of several recent research reports. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Barclays upped their target price 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. Scotiabank increased their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. UBS Group decreased their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of AvalonBay Communities in a research note on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $196.87.

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.