Caisse de depot et placement du Quebec Makes New Investment in AvalonBay Communities, Inc. $AVB

Caisse de depot et placement du Quebec bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 285,685 shares of the real estate investment trust’s stock, valued at approximately $53,906,000. Caisse de depot et placement du Quebec owned about 0.20% of AvalonBay Communities at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Man Group plc purchased a new position in AvalonBay Communities in the 2nd quarter worth about $535,000. First Bancorp Inc ME purchased a new stake in AvalonBay Communities in the 2nd quarter valued at about $65,000. Polar Asset Management Partners Inc. bought a new position in AvalonBay Communities in the 2nd quarter worth about $3,308,000. Jupiter Topco LLC purchased a new position in shares of AvalonBay Communities during the second quarter worth approximately $6,785,000. Finally, Kintayl Capital LP purchased a new position in shares of AvalonBay Communities during the second quarter worth approximately $7,149,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AVB. Barclays raised their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. Scotiabank increased their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Truist Financial upped their price objective on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $196.87.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $184.06 on Friday. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $198.63. The firm has a 50 day moving average of $187.89 and a 200 day moving average of $180.75. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). The firm 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 quarter last year, the business 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 fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend 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.