First Trust Advisors LP increased its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,626 shares of the real estate investment trust’s stock after buying an additional 7,188 shares during the period. First Trust Advisors LP’s holdings in AvalonBay Communities were worth $31,333,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of AvalonBay Communities by 9.5% in the third quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock valued at $568,255,000 after purchasing an additional 276,035 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of AvalonBay Communities by 5.0% in the third quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after purchasing an additional 138,649 shares during the last quarter. PGGM Investments increased its holdings in shares of AvalonBay Communities by 21.4% in the fourth quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock valued at $355,571,000 after purchasing an additional 350,790 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AvalonBay Communities by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,951,873 shares of the real estate investment trust’s stock valued at $348,254,000 after purchasing an additional 38,163 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of AvalonBay Communities by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,299,049 shares of the real estate investment trust’s stock valued at $231,764,000 after purchasing an additional 75,452 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.
Shares of AvalonBay Communities Inc (AVB) opened at $160.42 on Wednesday. AvalonBay Communities Inc has a 52-week low of $154.82 and a 52-week high of $199.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $22,448.95, a PE ratio of 25.22, a P/E/G ratio of 2.52 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The business had revenue of $555.29 million during the quarter, compared to analysts’ expectations of $554.20 million. During the same quarter in the prior year, the business posted $2.12 earnings per share. AvalonBay Communities’s revenue was up 7.1% compared to the same quarter last year. analysts expect that AvalonBay Communities Inc will post 9 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be given a dividend of $1.47 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. This represents a $5.88 annualized dividend and a yield of 3.67%. AvalonBay Communities’s dividend payout ratio is currently 89.31%.
Several equities analysts have commented on AVB shares. Robert W. Baird reiterated a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a report on Tuesday, January 9th. Stifel Nicolaus decreased their price objective on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Sandler O’Neill downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays decreased their price objective on shares of AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two 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. The company has a consensus rating of “Hold” and an average price target of $194.82.
In related news, COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Naughton sold 25,160 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,628,669 in the last ninety days. 0.46% of the stock is currently owned by company insiders.
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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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