Wellington Management Group LLP Grows Stock Position in AvalonBay Communities, Inc. $AVB

Wellington Management Group LLP lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 46.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 883,856 shares of the real estate investment trust’s stock after acquiring an additional 280,131 shares during the period. Wellington Management Group LLP owned approximately 0.62% of AvalonBay Communities worth $166,775,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Reflection Asset Management purchased a new stake in AvalonBay Communities during the 4th quarter worth approximately $25,000. Clearstead Trust LLC lifted its stake in shares of AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares during the period. Zions Bancorporation National Association UT grew its holdings in shares of 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 valued at $29,000 after buying an additional 120 shares during the last quarter. BOKF NA purchased a new stake in shares of AvalonBay Communities during the third quarter valued at $31,000. Finally, Elyxium Wealth LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.06 on Tuesday. 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. The stock has a market cap of $26.28 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The business has a 50-day simple moving average of $188.11 and a 200-day simple moving average of $180.87.

AvalonBay Communities (NYSE:AVB) last posted its 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). The company had revenue of $777.77 million for 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 last year, the business earned $2.82 earnings per share. On average, equities analysts expect that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 116.34%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVB. Scotiabank boosted their price target 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. Barclays lifted their target price on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. UBS Group dropped their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a report on Monday, June 1st. Finally, Piper Sandler raised their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $196.87.

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.