Westpac Banking Corp boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 303,373 shares of the real estate investment trust’s stock after purchasing an additional 10,227 shares during the quarter. AvalonBay Communities comprises about 1.2% of Westpac Banking Corp’s holdings, making the stock its 8th biggest holding. Westpac Banking Corp owned 0.22% of AvalonBay Communities worth $54,125,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in AVB. Thrivent Financial For Lutherans boosted its holdings in shares of AvalonBay Communities by 1.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 70,588 shares of the real estate investment trust’s stock valued at $13,565,000 after acquiring an additional 850 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of AvalonBay Communities by 3.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $4,442,000 after acquiring an additional 784 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of AvalonBay Communities during the 2nd quarter valued at about $1,224,000. Northern Trust Corp boosted its holdings in shares of AvalonBay Communities by 2.3% during the 2nd quarter. Northern Trust Corp now owns 2,367,614 shares of the real estate investment trust’s stock valued at $454,984,000 after acquiring an additional 52,272 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 158,436 shares during the last quarter. 94.86% of the stock is currently owned by institutional investors.
In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total transaction of $4,625,414.40. The transaction was disclosed in a legal filing with the SEC, 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. In the last 90 days, insiders have sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by company insiders.
A number of analysts have recently issued reports on AVB shares. Robert W. Baird reaffirmed a “buy” rating and set a $187.00 price target on shares of AvalonBay Communities in a report on Tuesday, January 9th. UBS Group raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and raised their price target for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 price target on shares of AvalonBay Communities in a report on Wednesday, October 4th. Mizuho reaffirmed a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a report on Monday, November 6th. Finally, Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two investment 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’s stock. AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $200.40.
AvalonBay Communities, Inc. (AVB) opened at $169.91 on Thursday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. The stock has a market cap of $23,341.00, a P/E ratio of 26.55, a P/E/G ratio of 2.51 and a beta of 0.35. AvalonBay Communities, Inc. has a 1-year low of $167.51 and a 1-year high of $199.52.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The business had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 EPS. analysts expect that AvalonBay Communities, Inc. will post 8.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, December 28th. AvalonBay Communities’s payout ratio is 88.75%.
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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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