NewEdge Wealth LLC Invests $1.44 Million in AvalonBay Communities, Inc. $AVB

NewEdge Wealth LLC acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,623 shares of the real estate investment trust’s stock, valued at approximately $1,438,000.

A number of other hedge funds also recently made changes to their positions in AVB. Reflection Asset Management purchased a new position in AvalonBay Communities in the fourth quarter worth $25,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Zions Bancorporation National Association UT lifted its stake in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA bought a new stake in AvalonBay Communities during the third quarter worth about $31,000. Finally, Elyxium Wealth LLC purchased a new position in shares of AvalonBay Communities in the 4th quarter worth about $32,000. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective on the stock in a report on Monday, June 1st. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Piper Sandler lifted their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. UBS Group lowered 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. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.06 on Friday. The business has a 50-day moving average of $187.69 and a 200 day moving average of $180.42. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. AvalonBay Communities, Inc. has a 1-year low of $160.10 and a 1-year high of $198.63. The stock has a market capitalization of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The company had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. During the same period last year, the firm earned $2.82 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s payout ratio is presently 116.34%.

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.