Polar Asset Management Partners Inc. Takes $3.31 Million Position in AvalonBay Communities, Inc. $AVB

Polar Asset Management Partners Inc. purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,529 shares of the real estate investment trust’s stock, valued at approximately $3,308,000.

Several other institutional investors have also added to or reduced their stakes in AVB. Empowered Funds LLC lifted its position in shares of AvalonBay Communities by 5.7% in the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after purchasing an additional 148 shares during the period. Guggenheim Capital LLC boosted its stake in shares of AvalonBay Communities by 2.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after purchasing an additional 129 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of AvalonBay Communities during the second quarter valued at about $1,374,000. Cresset Asset Management LLC increased its position in shares of AvalonBay Communities by 14.2% during the second quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock valued at $591,000 after buying an additional 360 shares during the period. Finally, Bank of Nova Scotia raised its stake in AvalonBay Communities by 9.5% in the second quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after buying an additional 1,629 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $184.06 on Wednesday. The company has a 50-day simple moving average of $187.67 and a two-hundred day simple moving average of $180.57. The stock has a market capitalization 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, Inc. has a 52-week low of $160.10 and a 52-week 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.

AvalonBay Communities (NYSE:AVB) last posted 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 firm had revenue of $777.77 million for 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 previous year, the company earned $2.82 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm 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 was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVB. Royal Bank Of Canada raised their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Scotiabank upped their target price on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Weiss Ratings lowered AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Piper Sandler raised 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. Finally, Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.87.

AvalonBay Communities Company 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.