Long Pond Capital LP Decreases Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Long Pond Capital LP lowered its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 75.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,889 shares of the real estate investment trust’s stock after selling 1,302,194 shares during the period. AvalonBay Communities makes up 2.7% of Long Pond Capital LP’s investment portfolio, making the stock its 14th largest holding. Long Pond Capital LP owned about 0.31% of AvalonBay Communities worth $78,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Alpha DNA Investment Management LLC purchased a new stake in AvalonBay Communities during the 4th quarter valued at $27,000. First Horizon Advisors Inc. purchased a new stake in shares of AvalonBay Communities during the 4th quarter valued at $33,000. Carroll Financial Associates Inc. acquired a new stake in AvalonBay Communities during the first quarter worth about $42,000. Arlington Partners LLC purchased a new position in shares of AvalonBay Communities in the first quarter valued at approximately $42,000. Finally, Parallel Advisors LLC grew its holdings in shares of AvalonBay Communities by 28.7% during the 1st quarter. Parallel Advisors LLC now owns 242 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 54 shares during the period. Institutional investors own 86.70% of the company’s stock.

AVB stock traded up $0.01 on Friday, reaching $214.67. 14,399 shares of the company’s stock were exchanged, compared to its average volume of 844,276. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.63 and a current ratio of 0.63. The company has a fifty day moving average of $196.94. AvalonBay Communities, Inc. has a twelve month low of $131.38 and a twelve month high of $216.64. The company has a market cap of $29.97 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 9.42 and a beta of 0.93.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by ($0.92). AvalonBay Communities had a net margin of 35.63% and a return on equity of 7.47%. The firm had revenue of $497.44 million for the quarter, compared to analyst estimates of $544.98 million. During the same quarter in the previous year, the company earned $2.39 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 7.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, June 29th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 73.19%.

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $204.19, for a total value of $612,570.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Keri A. Shea sold 994 shares of the company’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $212.94, for a total value of $211,662.36. The disclosure for this sale can be found here. Insiders sold a total of 5,265 shares of company stock valued at $1,083,860 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

A number of equities analysts have commented on AVB shares. KeyCorp upgraded shares of AvalonBay Communities from a “sector weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a research report on Monday, March 1st. Morgan Stanley upped their price target on AvalonBay Communities from $210.00 to $218.00 and gave the stock an “equal weight” rating in a research note on Friday. They noted that the move was a valuation call. Mizuho upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $231.00 target price for the company in a research note on Thursday, June 3rd. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating in a research report on Monday, May 3rd. Finally, Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $191.69.

AvalonBay Communities Company Profile

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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