Deutsche Bank AG Invests $129.67 Million in AvalonBay Communities, Inc. $AVB

Deutsche Bank AG purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, HoldingsChannel reports. The institutional investor purchased 687,226 shares of the real estate investment trust’s stock, valued at approximately $129,673,000.

Other hedge funds also recently made changes to their positions in the company. Auto Owners Insurance Co lifted its stake in shares of AvalonBay Communities by 18,031.0% in the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after purchasing an additional 11,720,150 shares in the last quarter. State Street Corp lifted its position in AvalonBay Communities by 1.0% during the third quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock valued at $1,858,788,000 after buying an additional 92,467 shares in the last quarter. Norges Bank acquired a new position in AvalonBay Communities during the fourth quarter valued at approximately $1,394,635,000. JPMorgan Chase & Co. grew its stake in AvalonBay Communities by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock worth $935,551,000 after buying an additional 944,129 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of AvalonBay Communities by 9.3% in the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after acquiring an additional 383,983 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of a number of recent research reports. Piper Sandler increased their target price on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. UBS Group reduced their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Royal Bank Of Canada upped their price target on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research report on Wednesday. Finally, Truist Financial lifted their price objective on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $196.87.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $184.06 on Thursday. The firm’s 50 day moving average is $187.75 and its two-hundred day moving average is $180.35. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $198.63. The firm has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million for the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period last year, the business posted $2.82 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

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

About AvalonBay Communities

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.