Whittier Trust Co. lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,113 shares of the real estate investment trust’s stock after selling 31 shares during the period. Whittier Trust Co.’s holdings in AvalonBay Communities were worth $214,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in AVB. BlackRock Inc. raised its position in AvalonBay Communities by 2,676.8% in the first quarter. BlackRock Inc. now owns 14,398,025 shares of the real estate investment trust’s stock worth $2,643,476,000 after buying an additional 13,879,505 shares in the last quarter. Daiwa Securities Group Inc. raised its position in AvalonBay Communities by 236.1% in the first quarter. Daiwa Securities Group Inc. now owns 2,585,626 shares of the real estate investment trust’s stock worth $474,721,000 after buying an additional 1,816,302 shares in the last quarter. FMR LLC raised its position in AvalonBay Communities by 21.5% in the first quarter. FMR LLC now owns 4,372,295 shares of the real estate investment trust’s stock worth $802,753,000 after buying an additional 773,410 shares in the last quarter. Vanguard Group Inc. raised its position in AvalonBay Communities by 1.9% in the first quarter. Vanguard Group Inc. now owns 21,857,497 shares of the real estate investment trust’s stock worth $4,013,036,000 after buying an additional 406,218 shares in the last quarter. Finally, Bank of Montreal Can raised its position in AvalonBay Communities by 592.9% in the first quarter. Bank of Montreal Can now owns 461,531 shares of the real estate investment trust’s stock worth $84,736,000 after buying an additional 394,927 shares in the last quarter. Institutional investors own 98.59% of the company’s stock.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) traded down 0.29% during mid-day trading on Friday, hitting $188.51. 397,827 shares of the company’s stock were exchanged. AvalonBay Communities, Inc. has a 52 week low of $158.32 and a 52 week high of $199.52. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of 25.96 and a beta of 0.34. The firm has a 50 day moving average price of $190.13 and a 200-day moving average price of $187.06.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.14 by $0.05. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. The business had revenue of $530.51 million for the quarter, compared to analyst estimates of $529.48 million. During the same quarter in the prior year, the firm earned $2.03 EPS. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post $5.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.01%. AvalonBay Communities’s dividend payout ratio is currently 78.13%.
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Several equities analysts recently commented on AVB shares. JMP Securities lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, May 25th. Deutsche Bank AG lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price target for the company. in a research report on Wednesday, May 17th. Evercore ISI decreased their price objective on shares of AvalonBay Communities from $188.00 to $186.00 and set an “in-line” rating for the company in a research note on Wednesday, April 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $196.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $193.58.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction on Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward M. Schulman sold 1,764 shares of AvalonBay Communities stock in a transaction on Monday, May 15th. The shares were sold at an average price of $191.82, for a total value of $338,370.48. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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