RB Capital Management LLC Buys New Stake in AvalonBay Communities, Inc. $AVB

RB Capital Management LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,278 shares of the real estate investment trust’s stock, valued at approximately $1,185,000.

A number of other large investors also recently added to or reduced their stakes in AVB. Reflection Asset Management purchased a new stake in shares of AvalonBay Communities in the 4th quarter valued at $25,000. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 56.0% during 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 during the period. Zions Bancorporation National Association UT boosted its holdings in AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the period. BOKF NA acquired a new position in AvalonBay Communities in the 3rd quarter valued at about $31,000. Finally, Elyxium Wealth LLC acquired a new position in AvalonBay Communities in the 4th quarter valued at about $32,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings cut shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. UBS Group dropped their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler increased their target price on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, Truist Financial raised their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Friday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $198.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market cap of $26.28 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The company has a fifty day simple moving average of $188.02 and a 200-day simple moving average of $180.77.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million for the quarter, compared to analysts’ expectations 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 firm earned $2.82 earnings per share. Equities analysts expect that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

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