Ossiam Makes New $2.92 Million Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Ossiam bought a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,807 shares of the real estate investment trust’s stock, valued at approximately $2,918,000.

A number of other hedge funds have also bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. grew its position in AvalonBay Communities by 11.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 46 shares in the last quarter. Veriti Management LLC grew its position in AvalonBay Communities by 1.9% in the second quarter. Veriti Management LLC now owns 2,877 shares of the real estate investment trust’s stock worth $600,000 after acquiring an additional 53 shares in the last quarter. Lido Advisors LLC grew its position in AvalonBay Communities by 1.2% in the first quarter. Lido Advisors LLC now owns 5,095 shares of the real estate investment trust’s stock worth $948,000 after acquiring an additional 62 shares in the last quarter. IndexIQ Advisors LLC grew its position in AvalonBay Communities by 3.0% in the second quarter. IndexIQ Advisors LLC now owns 2,298 shares of the real estate investment trust’s stock worth $480,000 after acquiring an additional 67 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in shares of AvalonBay Communities by 5.0% during the 2nd quarter. Sentry Investment Management LLC now owns 1,455 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 69 shares during the period. 87.70% of the stock is owned by institutional investors.

Several analysts recently issued reports on the stock. Mizuho upped their price objective on shares of AvalonBay Communities from $231.00 to $251.00 and gave the stock a “buy” rating in a report on Wednesday, September 29th. Piper Sandler upped their price objective on shares of AvalonBay Communities from $205.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, July 1st. Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $216.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday, July 30th. Morgan Stanley upped their price objective on shares of AvalonBay Communities from $235.00 to $242.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Colliers Securities reaffirmed a “hold” rating and set a $255.00 price objective on shares of AvalonBay Communities in a report on Friday, September 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $222.94.

Shares of AVB stock traded up $2.11 during mid-day trading on Thursday, reaching $230.41. The company’s stock had a trading volume of 262 shares, compared to its average volume of 730,796. AvalonBay Communities, Inc. has a 1-year low of $131.38 and a 1-year high of $233.48. The company has a market cap of $32.17 billion, a P/E ratio of 29.89, a PEG ratio of 6.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.41 and a current ratio of 1.41. The firm’s 50-day moving average is $225.29 and its two-hundred day moving average is $212.55.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, July 27th. The real estate investment trust reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $1.28. AvalonBay Communities had a net margin of 48.25% and a return on equity of 10.04%. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 7.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Monday, October 4th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Friday, October 1st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 73.19%.

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $228.60, for a total value of $457,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Naughton sold 21,843 shares of the firm’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $228.49, for a total transaction of $4,990,907.07. The disclosure for this sale can be found here. Insiders have sold a total of 31,253 shares of company stock valued at $7,126,588 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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