Narwhal Capital Management Has $11.75 Million Position in AvalonBay Communities, Inc. $AVB

Narwhal Capital Management raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,833 shares of the real estate investment trust’s stock after purchasing an additional 6,921 shares during the period. Narwhal Capital Management’s holdings in AvalonBay Communities were worth $11,751,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Perpetual Ltd boosted its holdings in shares of AvalonBay Communities by 0.5% during the 2nd quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock worth $2,167,000 after buying an additional 50 shares during the period. CX Institutional lifted its position in AvalonBay Communities by 6.3% during the 2nd quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 58 shares during the last quarter. Probity Advisors Inc. lifted its position in AvalonBay Communities by 2.7% during the 2nd quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock worth $456,000 after acquiring an additional 60 shares during the last quarter. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares during the period. Finally, Whittier Trust Co. grew its position in shares of AvalonBay Communities by 2.5% in the second quarter. Whittier Trust Co. now owns 2,725 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $179.48 on Friday. AvalonBay Communities, Inc. has a 12 month low of $166.73 and a 12 month high of $230.21. The company has a market capitalization of $25.41 billion, a P/E ratio of 21.91, a P/E/G ratio of 3.13 and a beta of 0.75. The stock has a 50 day moving average of $179.56 and a two-hundred day moving average of $188.43. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The firm had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. During the same quarter in the previous year, the company posted $2.74 earnings per share. As a group, equities analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 85.47%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVB. Royal Bank Of Canada dropped their price objective on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Barclays raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $229.00 to $216.00 in a research report on Tuesday, November 25th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Tuesday, October 14th. Finally, Truist Financial dropped their target price on shares of AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $205.82.

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.