AQR Capital Management LLC lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 13.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,107 shares of the real estate investment trust’s stock after selling 17,053 shares during the quarter. AQR Capital Management LLC’s holdings in AvalonBay Communities were worth $20,683,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of AVB. Treasurer of the State of North Carolina lifted its holdings in shares of AvalonBay Communities by 1.5% in the first quarter. Treasurer of the State of North Carolina now owns 53,277 shares of the real estate investment trust’s stock valued at $13,232,000 after purchasing an additional 795 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of AvalonBay Communities by 3.7% during the first quarter. Elo Mutual Pension Insurance Co now owns 10,990 shares of the real estate investment trust’s stock valued at $2,730,000 after acquiring an additional 389 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $617,000. Mercer Global Advisors Inc. ADV increased its position in shares of AvalonBay Communities by 165.6% during the first quarter. Mercer Global Advisors Inc. ADV now owns 2,489 shares of the real estate investment trust’s stock valued at $618,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $124,000. Institutional investors own 88.57% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Evercore ISI decreased their price target on AvalonBay Communities to $205.00 in a research report on Thursday, October 13th. Mizuho downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $220.00 to $170.00 in a research report on Thursday, November 10th. KeyCorp decreased their price target on AvalonBay Communities from $237.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, December 7th. Wolfe Research raised AvalonBay Communities from a “peer perform” rating to an “outperform” rating and set a $292.00 target price for the company in a research report on Wednesday, August 24th. Finally, Truist Financial decreased their target price on AvalonBay Communities from $228.00 to $186.00 in a research report on Thursday, December 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $213.83.
AvalonBay Communities Price Performance
Shares of NYSE AVB opened at $169.58 on Monday. The stock has a market cap of $23.72 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 3.31 and a beta of 0.87. AvalonBay Communities, Inc. has a fifty-two week low of $158.35 and a fifty-two week high of $259.05. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a fifty day moving average of $171.66 and a 200-day moving average of $190.40.
AvalonBay Communities Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, December 29th. AvalonBay Communities’s dividend payout ratio is 72.36%.
AvalonBay Communities Company Profile
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As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 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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