Redpoint Investment Management Pty Ltd Boosts Stake in AvalonBay Communities, Inc. (NYSE:AVB)


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Redpoint Investment Management Pty Ltd raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,675 shares of the real estate investment trust’s stock after purchasing an additional 777 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in AvalonBay Communities were worth $2,194,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank increased its position in shares of AvalonBay Communities by 3.6% during the third quarter. First Hawaiian Bank now owns 2,118 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 73 shares during the period. Sowell Financial Services LLC increased its holdings in AvalonBay Communities by 14.3% during the fourth quarter. Sowell Financial Services LLC now owns 615 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 77 shares during the period. World Asset Management Inc increased its holdings in AvalonBay Communities by 1.6% during the third quarter. World Asset Management Inc now owns 4,814 shares of the real estate investment trust’s stock valued at $719,000 after buying an additional 78 shares during the period. Camden National Bank increased its holdings in AvalonBay Communities by 0.4% during the third quarter. Camden National Bank now owns 20,952 shares of the real estate investment trust’s stock valued at $3,129,000 after buying an additional 80 shares during the period. Finally, Summit X LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $120,000. 91.00% of the stock is currently owned by institutional investors.

AVB opened at $159.19 on Thursday. The firm has a market capitalization of $22.22 billion, a PE ratio of 34.23, a PEG ratio of 15.57 and a beta of 0.97. AvalonBay Communities, Inc. has a twelve month low of $118.17 and a twelve month high of $229.40. The firm’s 50-day moving average price is $162.55 and its 200 day moving average price is $156.13. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($1.11). AvalonBay Communities had a return on equity of 6.02% and a net margin of 27.97%. During the same quarter last year, the business earned $2.00 EPS. As a group, analysts predict that AvalonBay Communities, Inc. will post 8.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.01 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. AvalonBay Communities’s dividend payout ratio is currently 68.09%.

AVB has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of AvalonBay Communities from $150.00 to $179.00 and gave the company an “equal weight” rating in a report on Friday, November 20th. UBS Group initiated coverage on shares of AvalonBay Communities in a report on Friday, October 16th. They set a “neutral” rating and a $165.00 price objective on the stock. Jefferies Financial Group lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and cut their price objective for the company from $174.00 to $152.00 in a report on Tuesday, October 13th. Wells Fargo & Company upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $160.00 to $185.00 in a research note on Thursday, December 10th. Finally, Mizuho raised their target price on shares of AvalonBay Communities from $160.00 to $169.00 and gave the company a “neutral” rating in a research note on Tuesday, November 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $171.81.

AvalonBay Communities Profile

As of September 30, 2020, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 86,676 apartment homes in 11 states and the District of Columbia, of which 19 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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

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