GSI Capital Advisors LLC Buys New Position in AvalonBay Communities, Inc. $AVB

GSI Capital Advisors LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 4th quarter, Holdings Channel.com reports. The firm bought 32,082 shares of the real estate investment trust’s stock, valued at approximately $5,817,000. AvalonBay Communities comprises about 3.3% of GSI Capital Advisors LLC’s portfolio, making the stock its 10th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of AvalonBay Communities by 1.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares in the last quarter. Keybank National Association OH boosted its position in shares of AvalonBay Communities by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 62 shares in the last quarter. Phoenix Financial Ltd. boosted its position in shares of AvalonBay Communities by 5.7% during the fourth quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 92 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of AvalonBay Communities by 14.6% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 785 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 100 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in shares of AvalonBay Communities by 1.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,527 shares of the real estate investment trust’s stock valued at $1,183,000 after purchasing an additional 100 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald lifted their price target on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Truist Financial lowered their price target on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $198.44.

AvalonBay Communities Trading Down 1.1%

Shares of NYSE:AVB opened at $184.56 on Friday. The company has a market cap of $25.67 billion, a P/E ratio of 26.75, a PEG ratio of 3.24 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $209.86. The stock’s fifty day moving average price is $179.51 and its 200-day moving average price is $177.61.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The business had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period in the previous year, the company earned $2.83 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is presently 103.19%.

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.