Ontario Teachers Pension Plan Board raised its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 8.3% in the fourth quarter, Holdings Channel reports. The fund owned 45,602 shares of the real estate investment trust’s stock after acquiring an additional 3,492 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in AvalonBay Communities were worth $8,136,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AVB. Janus Henderson Group PLC raised its holdings in shares of AvalonBay Communities by 151.2% during the third quarter. Janus Henderson Group PLC now owns 629,410 shares of the real estate investment trust’s stock valued at $112,300,000 after acquiring an additional 378,809 shares during the last quarter. PGGM Investments raised its holdings in shares of AvalonBay Communities by 21.4% during the fourth quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock valued at $355,571,000 after acquiring an additional 350,790 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of AvalonBay Communities by 185.9% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock valued at $89,939,000 after acquiring an additional 327,763 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of AvalonBay Communities by 316.7% during the third quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock valued at $72,744,000 after acquiring an additional 309,867 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 308,139 shares during the last quarter. 95.84% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the company. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their target price for the company from $190.00 to $206.00 in a report on Thursday, November 9th. BMO Capital Markets set a $178.00 price target on AvalonBay Communities and gave the company a “hold” rating in a research report on Monday, February 12th. Mizuho restated a “buy” rating and issued a $220.00 price target on shares of AvalonBay Communities in a research report on Monday, November 6th. SunTrust Banks restated a “buy” rating and issued a $186.00 price target on shares of AvalonBay Communities in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. lowered AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a research report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $194.82.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Sean J. Breslin sold 1,500 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,628,669 over the last quarter. 0.46% of the stock is currently owned by company insiders.
AvalonBay Communities Inc (AVB) opened at $156.02 on Thursday. The firm has a market capitalization of $21,540.00, a P/E ratio of 24.57, a P/E/G ratio of 2.48 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. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10.
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 consensus estimate of $1.22 by $1.03. The company had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 earnings per share. analysts anticipate that AvalonBay Communities Inc will post 9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.77%. This is a positive change 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 presently 89.45%.
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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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