4,221 Shares in AvalonBay Communities, Inc. $AVB Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, Holdings Channel reports. The firm acquired 4,221 shares of the real estate investment trust’s stock, valued at approximately $804,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of AvalonBay Communities during the second quarter valued at $3,368,659,000. Auto Owners Insurance Co grew its position in AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after purchasing an additional 11,720,150 shares during the last quarter. Norges Bank bought a new stake in AvalonBay Communities during the 4th quarter valued at about $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AvalonBay Communities by 15,065.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock worth $326,552,000 after buying an additional 1,789,195 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of AvalonBay Communities by 76.0% in the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock worth $455,077,000 after buying an additional 1,017,286 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

AVB stock opened at $184.06 on Tuesday. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $198.63. The business’s 50-day moving average is $187.68 and its two-hundred day moving average is $180.53. 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 company has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

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

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis 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%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVB shares. Weiss Ratings downgraded shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. UBS Group cut their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Piper Sandler boosted their price target on 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 raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $196.87.

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.