26,483 Shares in AvalonBay Communities, Inc. $AVB Acquired by Readystate Asset Management LP

Readystate Asset Management LP acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,483 shares of the real estate investment trust’s stock, valued at approximately $4,997,000.

Several other large investors have also modified their holdings of the stock. Figure 8 Investment Strategies LLC raised its stake in AvalonBay Communities by 6.0% during the 2nd quarter. Figure 8 Investment Strategies LLC now owns 4,230 shares of the real estate investment trust’s stock worth $798,000 after acquiring an additional 241 shares in the last quarter. HB Wealth Management LLC boosted its stake in AvalonBay Communities by 34.2% in the second quarter. HB Wealth Management LLC now owns 3,853 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 981 shares in the last quarter. Saudi Central Bank boosted its stake in AvalonBay Communities by 86.3% in the second quarter. Saudi Central Bank now owns 9,738 shares of the real estate investment trust’s stock valued at $1,837,000 after acquiring an additional 4,512 shares in the last quarter. Raiffeisen Bank International AG grew its holdings in shares of AvalonBay Communities by 278.9% during the second quarter. Raiffeisen Bank International AG now owns 288 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 212 shares during the last quarter. Finally, Syon Capital LLC grew its holdings in shares of AvalonBay Communities by 46.0% during the second quarter. Syon Capital LLC now owns 1,958 shares of the real estate investment trust’s stock worth $369,000 after purchasing an additional 617 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of a number of research analyst reports. Weiss Ratings cut AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. UBS Group cut their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Barclays boosted their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research note on Monday, August 17th. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Scotiabank lifted their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Monday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $198.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $187.99 and a 200-day simple moving average of $181.07. The stock has a market capitalization of $26.28 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last posted 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 firm had revenue of $777.77 million during the quarter, compared to analysts’ expectations 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. Equities analysts predict that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

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