SG Americas Securities LLC Increases Position in AvalonBay Communities, Inc. $AVB

SG Americas Securities LLC grew its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 96.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,728 shares of the real estate investment trust’s stock after purchasing an additional 78,509 shares during the period. SG Americas Securities LLC owned approximately 0.11% of AvalonBay Communities worth $26,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVB. Empowered Funds LLC raised its holdings in shares of AvalonBay Communities by 5.7% in the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 148 shares during the period. Guggenheim Capital LLC boosted its holdings in AvalonBay Communities by 2.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 129 shares during the period. Baird Financial Group Inc. acquired a new position in AvalonBay Communities in the 2nd quarter valued at about $1,374,000. Cresset Asset Management LLC grew its position in AvalonBay Communities by 14.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 360 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in AvalonBay Communities by 9.5% during the second quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after purchasing an additional 1,629 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on AVB shares. Piper Sandler increased their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company dropped their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Cantor Fitzgerald raised their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $195.13.

AvalonBay Communities Stock Up 0.8%

Shares of NYSE AVB opened at $183.62 on Thursday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $206.62. The company has a market capitalization of $25.54 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 3.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average of $182.08 and a two-hundred day moving average of $177.66.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The business had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period last year, the company earned $2.83 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

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.