Pallas Capital Advisors LLC Has $3.83 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Pallas Capital Advisors LLC grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 5.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 17,829 shares of the real estate investment trust’s stock after buying an additional 933 shares during the quarter. Pallas Capital Advisors LLC’s holdings in AvalonBay Communities were worth $3,826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ancora Advisors LLC grew its holdings in AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $36,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AvalonBay Communities in the 4th quarter worth approximately $53,000. Finally, Continuum Advisory LLC raised its position in AvalonBay Communities by 12,200.0% in the 4th quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 244 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB opened at $203.30 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50-day moving average of $203.25 and a 200-day moving average of $214.12. The company has a market cap of $28.94 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping the consensus estimate of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. During the same quarter in the previous year, the firm posted $2.70 EPS. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Monday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 87.17%.

Analyst Ratings Changes

AVB has been the topic of a number of recent research reports. Truist Financial increased their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Barclays boosted their target price on AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler reduced their price target on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $237.86.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.