Duff & Phelps Investment Management Co. Raises Position in AvalonBay Communities, Inc. (AVB)

Duff & Phelps Investment Management Co. boosted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 469,546 shares of the real estate investment trust’s stock after purchasing an additional 52,595 shares during the period. AvalonBay Communities comprises approximately 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 25th largest position. Duff & Phelps Investment Management Co. owned about 0.34% of AvalonBay Communities worth $83,776,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVB. Creative Planning raised its position in shares of AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2 shares during the last quarter. Conning Inc. boosted its position in AvalonBay Communities by 0.4% during the 2nd quarter. Conning Inc. now owns 4,289 shares of the real estate investment trust’s stock worth $824,000 after purchasing an additional 19 shares during the period. Miles Capital Inc. boosted its position in AvalonBay Communities by 2.8% during the 2nd quarter. Miles Capital Inc. now owns 1,402 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 38 shares during the period. Savant Capital LLC boosted its position in AvalonBay Communities by 4.6% during the 2nd quarter. Savant Capital LLC now owns 1,140 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 50 shares during the period. Finally, Blair William & Co. IL boosted its position in AvalonBay Communities by 0.7% during the 2nd quarter. Blair William & Co. IL now owns 7,221 shares of the real estate investment trust’s stock worth $1,388,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 97.71% of the company’s stock.

AvalonBay Communities, Inc. (NYSE:AVB) opened at $187.16 on Friday. The stock has a market cap of $25,887.34, a PE ratio of 22.08, a P/E/G ratio of 2.95 and a beta of 0.36. The company has a current ratio of 0.10, a quick ratio of 0.17 and a debt-to-equity ratio of 0.69. AvalonBay Communities, Inc. has a 1-year low of $158.32 and a 1-year high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. During the same quarter in the prior year, the firm posted $2.11 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts predict that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is presently 88.75%.

A number of equities analysts have commented on the stock. UBS AG upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $206.00 in a report on Thursday. Royal Bank of Canada lowered their price objective on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Mizuho reaffirmed a “buy” rating and set a $220.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 6th. Stifel Nicolaus decreased their target price on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $199.27.

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About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

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

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