AvalonBay Communities Inc (NYSE:AVB) Stock Holdings Decreased by Pendal Group Ltd

Pendal Group Ltd reduced its position in AvalonBay Communities Inc (NYSE:AVB) by 10.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 41,308 shares of the real estate investment trust’s stock after selling 4,689 shares during the quarter. Pendal Group Ltd’s holdings in AvalonBay Communities were worth $8,393,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AVB. Sheaff Brock Investment Advisors LLC lifted its stake in shares of AvalonBay Communities by 6.1% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 2,171 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 124 shares during the last quarter. Signaturefd LLC lifted its stake in shares of AvalonBay Communities by 20.5% in the second quarter. Signaturefd LLC now owns 453 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 77 shares during the last quarter. Keeler Thomas Management LLC lifted its stake in shares of AvalonBay Communities by 27.9% in the second quarter. Keeler Thomas Management LLC now owns 5,500 shares of the real estate investment trust’s stock worth $1,117,000 after buying an additional 1,200 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of AvalonBay Communities by 2.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,920 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 50 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in shares of AvalonBay Communities by 8.6% in the second quarter. Aperio Group LLC now owns 86,651 shares of the real estate investment trust’s stock worth $17,605,000 after buying an additional 6,895 shares during the last quarter. 91.88% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities stock traded down $1.15 on Tuesday, hitting $204.41. The company’s stock had a trading volume of 56,526 shares, compared to its average volume of 614,207. The stock has a market capitalization of $28.77 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 3.90 and a beta of 0.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $207.10. AvalonBay Communities Inc has a one year low of $167.01 and a one year high of $214.10.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.31 by ($1.10). The business had revenue of $577.26 million during the quarter, compared to the consensus estimate of $572.69 million. AvalonBay Communities had a net margin of 41.83% and a return on equity of 8.63%. During the same period last year, the firm earned $2.23 EPS. On average, analysts predict that AvalonBay Communities Inc will post 9.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, June 27th. AvalonBay Communities’s payout ratio is 67.56%.

In other news, CFO Kevin P. O’shea sold 250 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $205.49, for a total value of $51,372.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $210.00, for a total transaction of $420,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,250 shares of company stock worth $1,513,723. 0.42% of the stock is owned by insiders.

AVB has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of AvalonBay Communities from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Co reiterated an “outperform” rating and set a $224.00 target price (up from $218.00) on shares of AvalonBay Communities in a research note on Tuesday. Morgan Stanley upped their target price on shares of AvalonBay Communities from $194.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday, June 27th. Robert W. Baird upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their target price for the company from $198.00 to $215.00 in a research note on Thursday, May 16th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $209.13.

AvalonBay Communities Company 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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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