Janus Henderson Group PLC lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.1% in the 1st quarter, Holdings Channel reports. The fund owned 46,261 shares of the real estate investment trust’s stock after buying an additional 1,390 shares during the quarter. Janus Henderson Group PLC’s holdings in AvalonBay Communities were worth $8,539,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of AvalonBay Communities by 26.0% during the 1st quarter. First Horizon Advisors Inc. now owns 257 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 53 shares during the period. Parallel Advisors LLC boosted its stake in AvalonBay Communities by 28.7% in the 1st quarter. Parallel Advisors LLC now owns 242 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 54 shares during the period. West Oak Capital LLC boosted its stake in AvalonBay Communities by 5.8% in the 1st quarter. West Oak Capital LLC now owns 1,090 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 60 shares during the period. Lido Advisors LLC boosted its stake in AvalonBay Communities by 1.2% in the 1st quarter. Lido Advisors LLC now owns 5,095 shares of the real estate investment trust’s stock worth $948,000 after purchasing an additional 62 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its stake in AvalonBay Communities by 0.6% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 10,072 shares of the real estate investment trust’s stock worth $1,858,000 after purchasing an additional 65 shares during the period. Institutional investors own 86.55% of the company’s stock.
Several research analysts have commented on AVB shares. upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Monday, April 19th. Zacks Investment Research upgraded AvalonBay Communities from a “strong sell” rating to a “hold” rating and set a $200.00 target price for the company in a research note on Wednesday, April 14th. Morgan Stanley raised their target price on AvalonBay Communities from $218.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 15th. BTIG Research lifted their price target on AvalonBay Communities from $206.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, June 3rd. Finally, Colliers Securities reiterated a “hold” rating and set a $224.00 price target on shares of AvalonBay Communities in a research report on Friday, July 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $199.59.
Shares of NYSE AVB opened at $228.18 on Thursday. The stock has a market cap of $31.85 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 10.15 and a beta of 0.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 1-year low of $131.38 and a 1-year high of $230.60. The firm’s 50-day moving average price is $211.52.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.92). The company had revenue of $497.44 million during the quarter, compared to analysts’ expectations of $544.98 million. AvalonBay Communities had a return on equity of 7.47% and a net margin of 35.63%. AvalonBay Communities’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.39 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 7.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were paid a $1.59 dividend. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $6.36 dividend on an annualized basis and a yield of 2.79%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 73.19%.
AvalonBay Communities Company Profile
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").
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