RB Capital Management LLC lifted its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 9.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,171 shares of the real estate investment trust’s stock after purchasing an additional 105 shares during the quarter. RB Capital Management LLC’s holdings in AvalonBay Communities were worth $257,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. NuWave Investment Management LLC boosted its stake in AvalonBay Communities by 575.0% during the second quarter. NuWave Investment Management LLC now owns 216 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 184 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in AvalonBay Communities by 900.0% during the second quarter. Cullen Frost Bankers Inc. now owns 250 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 225 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in AvalonBay Communities by 370.4% during the second quarter. CSat Investment Advisory L.P. now owns 254 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 200 shares in the last quarter. Meeder Asset Management Inc. bought a new position in AvalonBay Communities during the second quarter worth $60,000. Finally, Quantamental Technologies LLC boosted its stake in AvalonBay Communities by 13,333.3% during the second quarter. Quantamental Technologies LLC now owns 403 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 92.46% of the company’s stock.
AvalonBay Communities stock opened at $218.08 on Friday. AvalonBay Communities Inc has a 1-year low of $167.01 and a 1-year high of $219.71. The firm has a market capitalization of $30.55 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 4.06 and a beta of 0.49. The firm’s fifty day moving average price is $212.73 and its two-hundred day moving average price is $206.34. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($1.10). AvalonBay Communities had a net margin of 41.83% and a return on equity of 8.63%. The business had revenue of $577.26 million during the quarter, compared to the consensus estimate of $572.69 million. During the same period last year, the business posted $2.23 earnings per share. On average, research analysts forecast that AvalonBay Communities Inc will post 9.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, September 27th. AvalonBay Communities’s payout ratio is currently 67.56%.
In related news, EVP William M. Mclaughlin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $215.11, for a total transaction of $537,775.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $214.00, for a total transaction of $428,000.00. The disclosure for this sale can be found here. Insiders have sold 5,801 shares of company stock worth $1,243,499 over the last three months. 0.42% of the stock is owned by insiders.
Several research analysts recently issued reports on AVB shares. Citigroup increased their target price 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. ValuEngine lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BTIG Research raised their price objective on shares of AvalonBay Communities to $235.00 and gave the company a “positive” rating in a research note on Thursday, August 15th. Morgan Stanley raised their price objective on shares of AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AvalonBay Communities from $214.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $214.21.
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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