Parametric Portfolio Associates LLC increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,745 shares of the real estate investment trust’s stock after purchasing an additional 9,911 shares during the quarter. Parametric Portfolio Associates LLC owned 0.20% of AvalonBay Communities worth $49,555,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 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. State Board of Administration of Florida Retirement System raised its stake in shares of AvalonBay Communities by 2.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 214,770 shares of the real estate investment trust’s stock valued at $41,272,000 after purchasing an additional 4,787 shares in the last quarter. Federated Investors Inc. PA raised its stake in AvalonBay Communities by 212.0% during the second quarter. Federated Investors Inc. PA now owns 5,782 shares of the real estate investment trust’s stock worth $1,111,000 after acquiring an additional 3,929 shares during the period. Virginia Retirement Systems ET AL raised its stake in AvalonBay Communities by 1.0% during the second quarter. Virginia Retirement Systems ET AL now owns 143,621 shares of the real estate investment trust’s stock worth $27,600,000 after acquiring an additional 1,400 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of AvalonBay Communities by 0.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 559,833 shares of the real estate investment trust’s stock valued at $107,583,000 after purchasing an additional 1,436 shares during the period. 94.84% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. KeyCorp restated a “hold” rating on shares of AvalonBay Communities in a report on Sunday, September 24th. Evercore ISI upgraded shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price target on the stock in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Mizuho reiterated a “buy” rating and set a $220.00 target price on shares of AvalonBay Communities in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $200.40.
In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock worth $5,628,669 over the last quarter. Corporate insiders own 0.46% of the company’s stock.
Shares of AvalonBay Communities, Inc. (NYSE AVB) traded down $1.19 during midday trading on Thursday, reaching $169.77. 468,183 shares of the company were exchanged, compared to its average volume of 555,010. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10. AvalonBay Communities, Inc. has a 52-week low of $169.50 and a 52-week high of $199.52. The firm has a market capitalization of $23,610.00, a PE ratio of 26.61, a P/E/G ratio of 2.58 and a beta of 0.35.
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 for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. AvalonBay Communities’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. analysts forecast that AvalonBay Communities, Inc. will post 8.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.35%. AvalonBay Communities’s payout ratio is 89.03%.
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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.
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