Pensionfund DSM Netherlands boosted its position in AvalonBay Communities Inc (NYSE:AVB) by 11.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,120 shares of the real estate investment trust’s stock after acquiring an additional 2,600 shares during the period. AvalonBay Communities comprises approximately 0.8% of Pensionfund DSM Netherlands’ holdings, making the stock its 18th biggest holding. Pensionfund DSM Netherlands’ holdings in AvalonBay Communities were worth $4,490,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Pensionfund Sabic grew its stake in shares of AvalonBay Communities by 12.2% during the 2nd quarter. Pensionfund Sabic now owns 11,002 shares of the real estate investment trust’s stock valued at $1,891,000 after buying an additional 1,200 shares during the period. Brown Advisory Inc. grew its stake in shares of AvalonBay Communities by 1.8% during the 1st quarter. Brown Advisory Inc. now owns 22,429 shares of the real estate investment trust’s stock valued at $3,689,000 after buying an additional 389 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in shares of AvalonBay Communities during the 1st quarter valued at $201,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AvalonBay Communities during the 1st quarter valued at $318,000. Finally, Heitman Real Estate Securities LLC grew its stake in shares of AvalonBay Communities by 2.5% during the 1st quarter. Heitman Real Estate Securities LLC now owns 548,865 shares of the real estate investment trust’s stock valued at $96,176,000 after buying an additional 13,199 shares during the period. 93.28% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities traded down $1.88, reaching $170.01, during trading on Monday, MarketBeat reports. 14,366 shares of the company’s stock were exchanged, compared to its average volume of 838,389. 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 Inc has a 52-week low of $152.65 and a 52-week high of $196.13. The stock has a market cap of $23.76 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.37.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($1.16). AvalonBay Communities had a return on equity of 7.57% and a net margin of 35.62%. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $556.23 million. During the same period last year, the company posted $2.09 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. analysts forecast that AvalonBay Communities Inc will post 8.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 3.46%. AvalonBay Communities’s dividend payout ratio (DPR) is 68.21%.
Several brokerages have recently issued reports on AVB. Jefferies Financial Group reissued a “hold” rating and set a $166.00 price objective on shares of AvalonBay Communities in a research note on Friday, April 13th. BTIG Research lowered their price objective on shares of AvalonBay Communities to $189.00 and set a “buy” rating for the company in a research note on Thursday, March 15th. Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. Morgan Stanley lowered their price objective on shares of AvalonBay Communities from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Thursday, June 14th. Finally, Citigroup raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Friday, April 6th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price 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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