AvalonBay Communities, Inc. $AVB Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 883,856 shares of the real estate investment trust’s stock after acquiring an additional 280,131 shares during the quarter. Wellington Management Group LLP’s holdings in AvalonBay Communities were worth $166,775,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. B&I Capital AG acquired a new stake in AvalonBay Communities in the first quarter valued at approximately $11,194,000. Principal Financial Group Inc. raised its stake in shares of AvalonBay Communities by 9.3% during the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after buying an additional 383,983 shares during the period. Empyrean Capital Partners LP acquired a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $9,474,000. Pacer Advisors Inc. lifted its position in shares of AvalonBay Communities by 42.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust’s stock valued at $2,931,000 after buying an additional 4,820 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AvalonBay Communities by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 408,956 shares of the real estate investment trust’s stock valued at $73,808,000 after buying an additional 19,789 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVB. Barclays boosted their price target on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research report on Monday, June 1st. Piper Sandler boosted their target price 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. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, UBS Group decreased their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $184.06 on Tuesday. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63. The company 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 debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50 day moving average price is $188.11 and its 200 day moving average price is $180.87.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The company had revenue of $777.77 million for the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period last year, the firm posted $2.82 EPS. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend 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.