Wealth Enhancement Advisory Services LLC raised its stake in AvalonBay Communities Inc (NYSE:AVB) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,146 shares of the real estate investment trust’s stock after purchasing an additional 906 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AvalonBay Communities were worth $2,146,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. grew its stake in shares of AvalonBay Communities by 4.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 29,497 shares of the real estate investment trust’s stock valued at $5,343,000 after purchasing an additional 1,210 shares during the last quarter. Signition LP purchased a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $304,000. US Bancorp DE boosted its stake in shares of AvalonBay Communities by 17.8% in the third quarter. US Bancorp DE now owns 23,319 shares of the real estate investment trust’s stock valued at $4,224,000 after buying an additional 3,518 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of AvalonBay Communities by 2.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 195,352 shares of the real estate investment trust’s stock valued at $35,388,000 after buying an additional 4,628 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of AvalonBay Communities by 1.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 111,100 shares of the real estate investment trust’s stock valued at $20,127,000 after buying an additional 1,337 shares in the last quarter. Institutional investors own 93.49% of the company’s stock.
In other news, COO Sean J. Breslin sold 7,200 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $182.20, for a total value of $1,311,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.43% of the company’s stock.
A number of analysts recently weighed in on the company. Argus lifted their price target on AvalonBay Communities to $196.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Robert W. Baird downgraded AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price target on the stock. in a research note on Wednesday, August 15th. Mizuho restated a “buy” rating and issued a $212.00 price target on shares of AvalonBay Communities in a research note on Monday, August 6th. ValuEngine upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus lifted their price target on AvalonBay Communities from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $193.61.
Shares of AVB stock opened at $175.25 on Monday. The firm has a market cap of $23.94 billion, a P/E ratio of 20.33, a PEG ratio of 2.56 and a beta of 0.38. AvalonBay Communities Inc has a 1 year low of $152.65 and a 1 year high of $188.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.72.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.87). The firm had revenue of $575.98 million for the quarter, compared to analyst estimates of $573.87 million. AvalonBay Communities had a return on equity of 7.96% and a net margin of 36.54%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 earnings per share. As a group, research analysts predict that AvalonBay Communities Inc will post 8.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a $1.47 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.36%. AvalonBay Communities’s dividend payout ratio (DPR) is 68.21%.
AvalonBay Communities Profile
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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