Zeke Capital Advisors LLC purchased a new position in shares of AvalonBay Communities Inc (NYSE:AVB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,834 shares of the real estate investment trust’s stock, valued at approximately $862,000.
Several other institutional investors have also recently modified their holdings of AVB. Amalgamated Bank lifted its stake in AvalonBay Communities by 1.9% in the 3rd quarter. Amalgamated Bank now owns 15,805 shares of the real estate investment trust’s stock valued at $2,820,000 after purchasing an additional 292 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in AvalonBay Communities by 6.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,186 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 300 shares during the last quarter. DnB Asset Management AS lifted its stake in AvalonBay Communities by 2.1% in the 4th quarter. DnB Asset Management AS now owns 14,778 shares of the real estate investment trust’s stock valued at $2,637,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in AvalonBay Communities by 0.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,450 shares of the real estate investment trust’s stock valued at $10,428,000 after purchasing an additional 329 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in AvalonBay Communities by 10.5% in the 3rd quarter. Pacer Advisors Inc. now owns 3,692 shares of the real estate investment trust’s stock valued at $659,000 after purchasing an additional 351 shares during the last quarter. 94.72% of the stock is owned by institutional investors.
AvalonBay Communities stock traded down $0.23 during midday trading on Friday, hitting $166.00. The stock had a trading volume of 600,822 shares, compared to its average volume of 755,937. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.71. AvalonBay Communities Inc has a 52-week low of $152.65 and a 52-week high of $199.52. The firm has a market capitalization of $22,923.94, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.60 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The firm had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. During the same period last year, the firm posted $2.12 earnings per share. AvalonBay Communities’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts predict that AvalonBay Communities Inc will post 8.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $5.88 annualized dividend and a dividend yield of 3.54%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio (DPR) is currently 68.21%.
Several equities analysts have issued reports on the stock. BMO Capital Markets set a $178.00 price target on shares of AvalonBay Communities and gave the company a “hold” rating in a research report on Monday, February 12th. 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. BTIG Research decreased their price target on shares of AvalonBay Communities to $189.00 and set a “buy” rating for the company in a research report on Thursday, March 15th. Robert W. Baird set a $178.00 price objective on shares of AvalonBay Communities and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, JPMorgan Chase cut shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. AvalonBay Communities has an average rating of “Hold” and an average price target of $191.00.
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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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