UBS Asset Management Americas Inc. grew its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 856,485 shares of the real estate investment trust’s stock after purchasing an additional 50,009 shares during the period. UBS Asset Management Americas Inc.’s holdings in AvalonBay Communities were worth $152,805,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of AvalonBay Communities by 1.3% during the fourth quarter. BlackRock Inc. now owns 15,114,729 shares of the real estate investment trust’s stock valued at $2,696,619,000 after buying an additional 187,850 shares during the last quarter. Schroder Investment Management Group raised its position in shares of AvalonBay Communities by 25.3% during the fourth quarter. Schroder Investment Management Group now owns 36,149 shares of the real estate investment trust’s stock valued at $6,450,000 after buying an additional 7,305 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AvalonBay Communities by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock valued at $623,200,000 after buying an additional 308,139 shares during the last quarter. Rhumbline Advisers raised its position in shares of AvalonBay Communities by 0.8% during the fourth quarter. Rhumbline Advisers now owns 290,730 shares of the real estate investment trust’s stock valued at $51,869,000 after buying an additional 2,182 shares during the last quarter. Finally, Shell Asset Management Co. acquired a new position in shares of AvalonBay Communities during the fourth quarter valued at about $10,018,000. 95.84% of the stock is owned by institutional investors and hedge funds.
Shares of AvalonBay Communities Inc (AVB) opened at $162.57 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $22,448.95, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.52 and a beta of 0.34. AvalonBay Communities Inc has a 52 week low of $154.82 and a 52 week high of $199.52.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million for the quarter, compared to analysts’ expectations of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. sell-side analysts predict that AvalonBay Communities Inc will post 9 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.62%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s dividend payout ratio is currently 89.31%.
AVB has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Stifel Nicolaus cut their price objective on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Mizuho reaffirmed a “buy” rating and set a $220.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 6th. Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Finally, UBS Group raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their target price for the company from $190.00 to $206.00 in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $194.82.
In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. 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 ninety days. Insiders own 0.46% of the company’s stock.
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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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