AvalonBay Communities Inc (AVB) Shares Sold by State of Wisconsin Investment Board

State of Wisconsin Investment Board cut its stake in AvalonBay Communities Inc (NYSE:AVB) by 6.0% during the 1st quarter, Holdings Channel reports. The fund owned 165,770 shares of the real estate investment trust’s stock after selling 10,607 shares during the period. State of Wisconsin Investment Board’s holdings in AvalonBay Communities were worth $27,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its position in shares of AvalonBay Communities by 5.8% in the fourth quarter. Xact Kapitalforvaltning AB now owns 29,567 shares of the real estate investment trust’s stock worth $5,275,000 after acquiring an additional 1,610 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of AvalonBay Communities by 16.2% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 545,586 shares of the real estate investment trust’s stock worth $97,338,000 after acquiring an additional 76,040 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of AvalonBay Communities by 8.3% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 45,602 shares of the real estate investment trust’s stock worth $8,136,000 after acquiring an additional 3,492 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of AvalonBay Communities by 17.4% in the fourth quarter. Lazard Asset Management LLC now owns 20,991 shares of the real estate investment trust’s stock worth $3,744,000 after acquiring an additional 3,104 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of AvalonBay Communities by 17.9% in the fourth quarter. Global X Management Co. LLC now owns 4,009 shares of the real estate investment trust’s stock worth $715,000 after acquiring an additional 608 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

AVB has been the topic of several research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 target price on shares of AvalonBay Communities in a research report on Friday, January 19th. SunTrust Banks set a $194.00 target price on shares of AvalonBay Communities and gave the stock a “buy” rating in a research report on Monday, January 22nd. Barclays decreased their target price on shares of AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. BMO Capital Markets reaffirmed a “hold” rating and set a $187.00 price target on shares of AvalonBay Communities in a research report on Wednesday, January 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $185.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $188.94.

AVB opened at $164.54 on Tuesday. The company has a market cap of $23.00 billion, a PE ratio of 19.10, a PEG ratio of 2.54 and a beta of 0.35. AvalonBay Communities Inc has a 52-week low of $163.64 and a 52-week high of $166.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.75.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($1.16). The firm had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $556.23 million. AvalonBay Communities had a net margin of 35.62% and a return on equity of 7.57%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 EPS. equities research analysts predict that AvalonBay Communities Inc will post 8.95 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities Inc (NYSE:AVB).

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply