Cerity Partners LLC Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Cerity Partners LLC acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVBGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,284 shares of the real estate investment trust’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Anson Funds Management LP purchased a new stake in shares of AvalonBay Communities in the first quarter valued at $52,000. Brown Brothers Harriman & Co. purchased a new stake in shares of AvalonBay Communities in the first quarter valued at $69,000. Sandy Cove Advisors LLC purchased a new stake in shares of AvalonBay Communities in the first quarter valued at $70,000. Clear Street Markets LLC lifted its position in shares of AvalonBay Communities by 414.0% in the second quarter. Clear Street Markets LLC now owns 293 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 236 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of AvalonBay Communities in the second quarter valued at $58,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AVB stock opened at $168.69 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.20 and a current ratio of 1.20. AvalonBay Communities, Inc. has a 1 year low of $158.35 and a 1 year high of $259.05. The firm has a market cap of $23.60 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The stock has a 50-day simple moving average of $177.91 and a 200-day simple moving average of $193.77.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a dividend of $1.59 per share. The ex-dividend date is Thursday, December 29th. This represents a $6.36 dividend on an annualized basis and a yield of 3.77%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 72.36%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVB. StockNews.com initiated coverage on AvalonBay Communities in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada reduced their target price on AvalonBay Communities from $210.00 to $196.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 8th. Evercore ISI reduced their target price on AvalonBay Communities to $205.00 in a research report on Thursday, October 13th. Truist Financial increased their target price on AvalonBay Communities to $228.00 in a research report on Tuesday, August 23rd. Finally, Citigroup increased their target price on AvalonBay Communities to $220.00 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $227.45.

AvalonBay Communities Company Profile

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As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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

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