American Century Companies Inc. reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 80.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,984 shares of the real estate investment trust’s stock after selling 264,052 shares during the period. American Century Companies Inc.’s holdings in AvalonBay Communities were worth $11,773,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of AVB. FMR LLC grew its stake in shares of AvalonBay Communities by 22.2% in the 2nd 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 in the last quarter. Koch Industries Inc. purchased a new position in shares of AvalonBay Communities in the 2nd quarter worth $365,000. Harbour Capital Advisors LLC grew its stake in shares of AvalonBay Communities by 19,117.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 329,572 shares of the real estate investment trust’s stock worth $1,715,000 after buying an additional 327,857 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in shares of AvalonBay Communities by 185.9% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock worth $89,939,000 after buying an additional 327,763 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of AvalonBay Communities by 316.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock worth $72,744,000 after buying an additional 309,867 shares in the last quarter. 96.85% of the stock is owned by institutional investors and hedge funds.
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Shares of AvalonBay Communities, Inc. (NYSE:AVB) opened at $184.37 on Friday. AvalonBay Communities, Inc. has a twelve month low of $158.32 and a twelve month high of $199.52. The firm has a market cap of $25,459.28, a PE ratio of 21.72, a P/E/G ratio of 2.90 and a beta of 0.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. During the same quarter in the previous year, the business earned $2.11 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. equities analysts forecast that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.08%. AvalonBay Communities’s payout ratio is 88.75%.
A number of brokerages have commented on AVB. BidaskClub raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Deutsche Bank AG raised their target price on shares of AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Goldman Sachs Group, Inc. (The) lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price for the company. in a report on Tuesday, September 5th. Finally, Robert W. Baird restated a “buy” rating and issued a $202.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. AvalonBay Communities has an average rating of “Hold” and an average target price of $199.27.
AvalonBay Communities Company 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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