Quinn Opportunity Partners LLC Decreases Position in AvalonBay Communities, Inc. $AVB

Quinn Opportunity Partners LLC lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 17.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 19,000 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. Quinn Opportunity Partners LLC’s holdings in AvalonBay Communities were worth $3,866,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVB. Vanguard Group Inc. grew its holdings in AvalonBay Communities by 0.4% in the first quarter. Vanguard Group Inc. now owns 22,672,682 shares of the real estate investment trust’s stock valued at $4,866,011,000 after purchasing an additional 96,790 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of AvalonBay Communities by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock valued at $1,184,712,000 after purchasing an additional 367,853 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AvalonBay Communities by 3.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust’s stock worth $818,653,000 after purchasing an additional 143,646 shares during the period. Northern Trust Corp increased its position in AvalonBay Communities by 5.2% during the 1st quarter. Northern Trust Corp now owns 2,779,484 shares of the real estate investment trust’s stock worth $596,533,000 after purchasing an additional 136,741 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in AvalonBay Communities by 4.2% during the 1st quarter. Wellington Management Group LLP now owns 2,594,073 shares of the real estate investment trust’s stock worth $556,740,000 after purchasing an additional 105,098 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of AVB opened at $179.08 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.54 and a beta of 0.84. AvalonBay Communities, Inc. has a 52 week low of $166.73 and a 52 week high of $239.29. The stock has a 50 day moving average of $187.59 and a 200-day moving average of $196.02.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). The firm had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. During the same quarter in the prior year, the business earned $2.74 earnings per share. As a group, analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $1.75 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio is presently 85.47%.

Analysts Set New Price Targets

Several research firms recently weighed in on AVB. Mizuho restated a “neutral” rating and set a $199.00 target price (down previously from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Truist Financial upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and lowered their target price for the company from $224.00 to $218.00 in a research note on Thursday, September 11th. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $228.00 to $225.00 in a research report on Wednesday, August 13th. Barclays lifted their price objective on shares of AvalonBay Communities from $228.00 to $229.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 30th. Finally, BNP Paribas downgraded shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $209.54.

About AvalonBay Communities

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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.