TCW Group Inc. lowered its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 8.7% in the fourth quarter, Holdings Channel reports. The fund owned 114,038 shares of the real estate investment trust’s stock after selling 10,928 shares during the period. TCW Group Inc.’s holdings in AvalonBay Communities were worth $20,345,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in AVB. Janus Henderson Group PLC boosted its position in AvalonBay Communities by 151.2% during the 3rd quarter. Janus Henderson Group PLC now owns 629,410 shares of the real estate investment trust’s stock worth $112,300,000 after acquiring an additional 378,809 shares during the last quarter. PGGM Investments boosted its position in AvalonBay Communities by 21.4% during the 4th quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock worth $355,571,000 after acquiring an additional 350,790 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in AvalonBay Communities by 185.9% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock worth $89,939,000 after acquiring an additional 327,763 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in AvalonBay Communities by 316.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock worth $72,744,000 after acquiring an additional 309,867 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in AvalonBay Communities by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock worth $623,200,000 after acquiring an additional 308,139 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total value of $365,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by company insiders.
Shares of AvalonBay Communities Inc (AVB) opened at $162.81 on Tuesday. The company has a market capitalization of $22,448.95, a P/E ratio of 25.56, a PEG ratio of 2.52 and a beta of 0.34. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.71. AvalonBay Communities Inc has a twelve month low of $154.82 and a twelve month high of $199.52.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $1.03. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The business had revenue of $555.29 million for the quarter, compared to analysts’ expectations of $554.20 million. During the same quarter in the prior year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. analysts forecast that AvalonBay Communities Inc will post 9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio is 89.31%.
A number of equities analysts have weighed in on the company. BMO Capital Markets set a $178.00 price target on AvalonBay Communities and gave the stock a “hold” rating in a research report on Monday, February 12th. Mizuho set a $185.00 price target on AvalonBay Communities and gave the stock a “buy” rating in a research report on Friday, February 9th. Zelman & Associates raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Zacks Investment Research downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $186.00 price target on shares of AvalonBay Communities in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $194.82.
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About AvalonBay Communities
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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