FineMark National Bank & Trust lessened its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,150 shares of the real estate investment trust’s stock after selling 617 shares during the quarter. FineMark National Bank & Trust’s holdings in AvalonBay Communities were worth $919,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in AvalonBay Communities by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock valued at $4,230,802,000 after purchasing an additional 158,436 shares during the last quarter. BlackRock Inc. boosted its stake in shares of AvalonBay Communities by 1.1% in the second quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock worth $2,797,838,000 after buying an additional 161,167 shares during the last quarter. FMR LLC boosted its stake in shares of AvalonBay Communities by 22.2% in the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock worth $1,026,454,000 after buying an additional 969,095 shares during the last quarter. Principal Financial Group Inc. raised its holdings in AvalonBay Communities by 0.9% in the 2nd quarter. Principal Financial Group Inc. now owns 2,793,421 shares of the real estate investment trust’s stock worth $536,811,000 after purchasing an additional 25,486 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in AvalonBay Communities by 7.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,774,022 shares of the real estate investment trust’s stock worth $533,084,000 after purchasing an additional 188,396 shares during the period. Institutional investors and hedge funds own 97.71% of the company’s stock.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) traded down $0.31 during trading hours on Friday, hitting $187.16. The stock had a trading volume of 460,700 shares, compared to its average volume of 598,453. The stock has a market cap of $25,844.55, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.17. AvalonBay Communities, Inc. has a fifty-two week low of $158.32 and a fifty-two week 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 Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The company 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 earned $2.11 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts expect that AvalonBay Communities, Inc. will post 8.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a yield of 3.03%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 88.75%.
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A number of equities analysts recently weighed in on AVB shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a report on Wednesday, October 4th. Robert W. Baird reissued a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. BidaskClub cut AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Mizuho reaffirmed a “buy” rating and issued a $220.00 price target on shares of AvalonBay Communities in a report on Monday, November 6th. Finally, Goldman Sachs Group, Inc. (The) cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target for the company. in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $199.27.
AvalonBay Communities Profile
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.
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