Stifel Financial Corp lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,794 shares of the real estate investment trust’s stock after purchasing an additional 919 shares during the period. Stifel Financial Corp’s holdings in AvalonBay Communities were worth $2,106,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Pinebridge Investments L.P. purchased a new position in shares of AvalonBay Communities during the 3rd quarter worth approximately $671,000. FDO Partners LLC purchased a new position in shares of AvalonBay Communities during the 3rd quarter worth approximately $431,000. Sarasin & Partners LLP increased its stake in shares of AvalonBay Communities by 5.3% during the 3rd quarter. Sarasin & Partners LLP now owns 84,867 shares of the real estate investment trust’s stock worth $15,142,000 after purchasing an additional 4,287 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of AvalonBay Communities by 6.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 24,565 shares of the real estate investment trust’s stock worth $4,383,000 after purchasing an additional 1,397 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of AvalonBay Communities by 12.0% during the 3rd quarter. KBC Group NV now owns 61,038 shares of the real estate investment trust’s stock worth $10,891,000 after purchasing an additional 6,528 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Timothy J. Naughton sold 25,160 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by company insiders.
Shares of AvalonBay Communities, Inc. (AVB) traded down $1.54 on Friday, hitting $168.23. 494,377 shares of the company’s stock were exchanged, compared to its average volume of 540,638. The firm has a market cap of $23,443.18, a price-to-earnings ratio of 26.29, a PEG ratio of 2.52 and a beta of 0.35. AvalonBay Communities, Inc. has a 52 week low of $167.51 and a 52 week high of $199.52. 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 (NYSE:AVB) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million during the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.11 EPS. equities research analysts anticipate that AvalonBay Communities, Inc. will post 8.62 EPS for the current year.
The business 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 dividend on an annualized basis and a dividend yield of 3.38%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 88.75%.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Evercore ISI raised shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective for the company in a research note on Monday, September 25th. KeyCorp restated a “hold” rating on shares of AvalonBay Communities in a research report on Sunday, September 24th. BMO Capital Markets restated a “hold” rating and set a $190.00 target price on shares of AvalonBay Communities in a research report on Monday, November 27th. Finally, Robert W. Baird restated a “buy” rating and set a $187.00 target price on shares of AvalonBay Communities in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $200.40.
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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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