AvalonBay Communities, Inc. $AVB Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 13.7% during the second quarter, HoldingsChannel reports. The fund owned 53,021 shares of the real estate investment trust’s stock after acquiring an additional 6,374 shares during the quarter. NEOS Investment Management LLC’s holdings in AvalonBay Communities were worth $10,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nykredit A S acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $10,830,000. B. Metzler seel. Sohn & Co. AG grew its stake in AvalonBay Communities by 34.2% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 10,381 shares of the real estate investment trust’s stock worth $1,959,000 after purchasing an additional 2,646 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in AvalonBay Communities in the second quarter valued at about $254,000. Alyeska Investment Group L.P. bought a new stake in AvalonBay Communities in the second quarter valued at about $15,176,000. Finally, Greenleaf Trust raised its stake in AvalonBay Communities by 24.3% during the second quarter. Greenleaf Trust now owns 2,325 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 454 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group reduced their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Scotiabank upped their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Barclays raised their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a report on Wednesday, August 19th. Finally, Weiss Ratings downgraded shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $184.06 on Friday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The business’s fifty day moving average is $187.99 and its 200-day moving average is $181.04. The stock has a market cap of $26.28 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same quarter last year, the company earned $2.82 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

AvalonBay Communities 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.