Davis Selected Advisers Acquires 1,170 Shares of AvalonBay Communities, Inc. $AVB

Davis Selected Advisers boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,820 shares of the real estate investment trust’s stock after buying an additional 1,170 shares during the quarter. Davis Selected Advisers’ holdings in AvalonBay Communities were worth $11,766,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Perpetual Ltd increased its holdings in shares of AvalonBay Communities by 0.5% in the 2nd quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after acquiring an additional 50 shares during the period. CX Institutional lifted its stake in shares of AvalonBay Communities by 6.3% during the 2nd quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 58 shares during the last quarter. Probity Advisors Inc. boosted its position in AvalonBay Communities by 2.7% during the second quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 60 shares in the last quarter. Clearstead Trust LLC grew its stake in AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 62 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in AvalonBay Communities by 1.0% in the first quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust’s stock worth $1,377,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

NYSE AVB opened at $177.01 on Friday. The company has a market cap of $25.06 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s fifty day moving average price is $187.02 and its 200 day moving average price is $195.76. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The firm had revenue of $766.80 million for the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.During the same period in the prior year, the firm posted $2.74 EPS. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $1.75 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a yield of 4.0%. AvalonBay Communities’s dividend payout ratio is currently 85.47%.

Analysts Set New Price Targets

AVB has been the topic of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. BNP Paribas lowered shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a report on Tuesday, October 14th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Barclays boosted their target price on AvalonBay Communities from $228.00 to $229.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 30th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $209.35.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.