33,939 Shares in AvalonBay Communities, Inc. $AVB Acquired by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 33,939 shares of the real estate investment trust’s stock, valued at approximately $6,404,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVB. Reflection Asset Management bought a new position in shares of AvalonBay Communities during the 4th quarter worth about $25,000. Clearstead Trust LLC lifted 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 worth $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT grew its position 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 worth $29,000 after acquiring an additional 120 shares during the last quarter. BOKF NA purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $31,000. Finally, Elyxium Wealth LLC bought a new position in AvalonBay Communities in the fourth quarter worth about $32,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.06 on Monday. The stock has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company’s 50-day moving average price is $188.02 and its 200-day moving average price is $180.82.

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 analysts’ consensus estimates of $1.23 by ($0.12). The company had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period in the previous year, the company earned $2.82 EPS. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 dividend payout ratio (DPR) is currently 116.34%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVB. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a report on Monday, June 1st. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. 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. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Piper Sandler boosted their target price on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average 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.