Jupiter Topco LLC Acquires New Stake in AvalonBay Communities, Inc. $AVB

Jupiter Topco LLC acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,937 shares of the real estate investment trust’s stock, valued at approximately $6,785,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVB. Kintayl Capital LP purchased a new stake in shares of AvalonBay Communities during the second quarter worth $7,149,000. Hsbc Holdings PLC boosted its position in AvalonBay Communities by 4.7% during the second quarter. Hsbc Holdings PLC now owns 724,203 shares of the real estate investment trust’s stock worth $136,730,000 after acquiring an additional 32,751 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in AvalonBay Communities during the second quarter worth about $40,679,000. Legal & General Group Plc acquired a new position in AvalonBay Communities during the second quarter worth about $366,672,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in AvalonBay Communities during the 2nd quarter valued at about $15,884,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

AVB has been the subject of a number of analyst reports. Barclays upped their price target on AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research report on Monday, August 17th. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank boosted their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Finally, 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 report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Price Performance

AVB stock opened at $184.06 on Monday. The business has a fifty day moving average of $188.02 and a two-hundred day moving average of $180.82. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $198.63.

AvalonBay Communities (NYSE:AVB) last posted its 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 during the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter in the prior year, the firm earned $2.82 EPS. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

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