Jump Financial LLC Invests $412,000 in AvalonBay Communities, Inc. (NYSE:AVB)

Jump Financial LLC acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,400 shares of the real estate investment trust’s stock, valued at approximately $412,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pinnacle Bancorp Inc. acquired a new stake in AvalonBay Communities in the third quarter worth approximately $26,000. Quarry LP lifted its position in AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 138 shares during the period. Castleview Partners LLC lifted its position in AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 216 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in AvalonBay Communities by 42.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 222 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 66 shares during the period. Finally, Ronald Blue Trust Inc. lifted its position in AvalonBay Communities by 316.7% in the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 171 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVB. Royal Bank of Canada restated a “sector perform” rating and issued a $185.00 target price on shares of AvalonBay Communities in a research report on Friday, February 2nd. Wolfe Research cut AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Truist Financial cut AvalonBay Communities from a “buy” rating to a “hold” rating and upped their price target for the company from $202.00 to $203.00 in a report on Tuesday, January 16th. KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a report on Friday, January 5th. Finally, Mizuho upped their price target on AvalonBay Communities from $176.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $196.06.

View Our Latest Research Report on AVB

AvalonBay Communities Trading Up 0.1 %

Shares of NYSE:AVB opened at $174.63 on Monday. The company has a market cap of $24.80 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.24 and a beta of 0.93. The stock’s 50-day moving average is $181.20 and its 200-day moving average is $177.94. AvalonBay Communities, Inc. has a 52-week low of $153.07 and a 52-week high of $198.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.84 and a current ratio of 1.84.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period in the prior year, the business posted $2.59 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $1.70 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 100.76%.

About AvalonBay Communities

(Free Report)

As of September 30, 2023, the Company owned or held a direct or indirect ownership interest in 296 apartment communities containing 89,240 apartment homes in 12 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

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Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVBFree Report).

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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