Excalibur Management Corp bought a new position in shares of AvalonBay Communities Inc (NYSE:AVB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,455 shares of the real estate investment trust’s stock, valued at approximately $934,000.
A number of other large investors have also recently made changes to their positions in AVB. CX Institutional raised its holdings in AvalonBay Communities by 85.5% during the third quarter. CX Institutional now owns 115 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 53 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $34,000. KCS Wealth Advisory bought a new stake in AvalonBay Communities during the third quarter worth approximately $67,000. Evoke Wealth LLC bought a new stake in AvalonBay Communities during the third quarter worth approximately $69,000. Finally, FNY Investment Advisers LLC raised its holdings in AvalonBay Communities by 179.7% during the third quarter. FNY Investment Advisers LLC now owns 386 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 248 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.
AvalonBay Communities stock opened at $217.61 on Thursday. The company’s fifty day simple moving average is $212.24 and its 200-day simple moving average is $212.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. AvalonBay Communities Inc has a 12 month low of $191.42 and a 12 month high of $222.87. The stock has a market cap of $30.55 billion, a P/E ratio of 30.10, a P/E/G ratio of 3.62 and a beta of 0.48.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $1.20 EPS for the quarter, missing the consensus estimate of $2.39 by ($1.19). AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. The company had revenue of $593.52 million for the quarter, compared to analysts’ expectations of $593.59 million. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that AvalonBay Communities Inc will post 9.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.59 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.52. This represents a $6.36 annualized dividend and a dividend yield of 2.92%. AvalonBay Communities’s payout ratio is currently 67.56%.
In other news, COO Sean J. Breslin sold 777 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $213.51, for a total transaction of $165,897.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Naughton sold 26,634 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $213.60, for a total transaction of $5,689,022.40. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Several equities research analysts recently commented on the company. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $225.00 target price on the stock in a report on Tuesday, November 19th. SunTrust Banks lifted their price target on shares of AvalonBay Communities from $218.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and lifted their price target for the stock from $234.00 to $248.00 in a research report on Thursday, January 16th. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price target on the stock in a research report on Wednesday, January 15th. Finally, BMO Capital Markets lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. AvalonBay Communities presently has a consensus rating of “Buy” and an average price target of $226.69.
AvalonBay Communities Profile
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 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.
Further Reading: What economic reports are most valuable to investors?
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.