BB&T Securities LLC decreased its holdings in AvalonBay Communities Inc (NYSE:AVB) by 55.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,357 shares of the real estate investment trust’s stock after selling 1,668 shares during the period. BB&T Securities LLC’s holdings in AvalonBay Communities were worth $223,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AVB. Compagnie Lombard Odier SCmA bought a new position in shares of AvalonBay Communities in the 4th quarter valued at $236,000. Miles Capital Inc. grew its position in AvalonBay Communities by 32.6% during the 1st quarter. Miles Capital Inc. now owns 1,648 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 405 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new stake in AvalonBay Communities during the 1st quarter worth $284,000. IFP Advisors Inc grew its position in AvalonBay Communities by 3,960.4% during the 1st quarter. IFP Advisors Inc now owns 1,949 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 1,901 shares during the last quarter. Finally, 6 Meridian grew its position in AvalonBay Communities by 21.5% during the 1st quarter. 6 Meridian now owns 2,871 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 509 shares during the last quarter. Institutional investors own 93.28% of the company’s stock.
Shares of AvalonBay Communities opened at $171.31 on Wednesday, MarketBeat Ratings reports. 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 Inc has a 1 year low of $152.65 and a 1 year high of $196.13. The stock has a market capitalization of $23.61 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.59 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last issued 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 Thomson Reuters’ 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 firm had revenue of $560.80 million during the quarter, compared to analyst estimates of $556.23 million. During the same period last year, the business earned $2.09 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. equities research analysts forecast that AvalonBay Communities Inc will post 8.95 EPS for the current fiscal year.
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Thursday, June 28th. AvalonBay Communities’s payout ratio is currently 68.21%.
A number of brokerages recently weighed in on AVB. Morgan Stanley reduced their price objective on AvalonBay Communities from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 14th. Bank of America boosted their price objective on AvalonBay Communities from $197.00 to $198.00 and gave the stock a “hold” rating in a research report on Friday, June 8th. Jefferies Financial Group restated a “hold” rating and set a $166.00 price objective on shares of AvalonBay Communities in a research report on Friday, April 13th. Citigroup upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Friday, April 6th. Finally, BTIG Research lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a research report on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $189.32.
AvalonBay Communities Company 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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