Thrivent Financial for Lutherans grew its position in shares of AvalonBay Communities (NYSE:AVB) by 38.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,259 shares of the real estate investment trust’s stock after purchasing an additional 26,980 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of AvalonBay Communities worth $15,995,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in AVB. Capital Analysts LLC raised its holdings in AvalonBay Communities by 441.3% during the 4th quarter. Capital Analysts LLC now owns 2,230 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,818 shares during the last quarter. Bartlett & Co. LLC grew its position in shares of AvalonBay Communities by 112.8% during the 4th quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 361 shares during the period. Keeler Thomas Management LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $166,000. NuWave Investment Management LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $181,000. Finally, MUFG Americas Holdings Corp acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $189,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.
AvalonBay Communities opened at $157.76 on Friday, according to Marketbeat Ratings. AvalonBay Communities has a 12-month low of $152.65 and a 12-month high of $199.52. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $21.80 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($1.16). AvalonBay Communities had a net margin of 35.62% and a return on equity of 7.57%. The business had revenue of $560.80 million during the quarter, compared to analyst estimates of $556.23 million. During the same period in the previous year, the business posted $2.09 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts expect that AvalonBay Communities will post 8.95 earnings per share for the current year.
AVB has been the subject of several recent analyst reports. Mizuho set a $185.00 price objective on shares of AvalonBay Communities and gave the stock a “buy” rating in a research report on Friday, February 9th. 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. Argus reduced their price objective on shares of AvalonBay Communities from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. SunTrust Banks reaffirmed a “buy” rating and set a $186.00 price objective on shares of AvalonBay Communities in a research report on Friday, February 2nd. Finally, BTIG Research reduced their price objective on shares of AvalonBay Communities to $189.00 and set a “buy” rating for the company in a research report on Thursday, March 15th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $188.94.
AvalonBay Communities Profile
As of December 31, 2017, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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