US Bancorp DE decreased its holdings in AvalonBay Communities (NYSE:AVB) by 10.7% during the first quarter, Holdings Channel reports. The institutional investor owned 20,518 shares of the real estate investment trust’s stock after selling 2,449 shares during the quarter. US Bancorp DE’s holdings in AvalonBay Communities were worth $3,374,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Keeler Thomas Management LLC purchased a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $166,000. NuWave Investment Management LLC purchased a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $181,000. MUFG Americas Holdings Corp purchased a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $189,000. Compagnie Lombard Odier SCmA purchased a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $236,000. Finally, Eqis Capital Management Inc. boosted its holdings in shares of AvalonBay Communities by 29.1% in the fourth quarter. Eqis Capital Management Inc. now owns 1,624 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 366 shares during the last quarter. 93.10% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on AVB shares. BMO Capital Markets set a $175.00 price objective on shares of AvalonBay Communities and gave the stock a “hold” rating in a report on Friday, March 2nd. Sandler O’Neill cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. 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 note on Tuesday, January 30th. Zelman & Associates upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus decreased their target price on shares of AvalonBay Communities from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $188.94.
AvalonBay Communities opened at $161.76 on Friday, MarketBeat Ratings reports. The company has a market cap of $22.36 billion, a PE ratio of 18.57, a P/E/G ratio of 2.47 and a beta of 0.35. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. AvalonBay Communities has a 1 year low of $152.65 and a 1 year high of $199.52.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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). The company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $556.23 million. AvalonBay Communities had a net margin of 35.62% and a return on equity of 7.57%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. analysts anticipate that AvalonBay Communities will post 8.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, June 28th. AvalonBay Communities’s payout ratio is currently 68.21%.
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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