Nisa Investment Advisors LLC increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 40.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,538 shares of the real estate investment trust’s stock after buying an additional 17,790 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AvalonBay Communities were worth $10,979,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. DnB Asset Management AS lifted its position in shares of AvalonBay Communities by 2.1% during the 4th quarter. DnB Asset Management AS now owns 14,778 shares of the real estate investment trust’s stock worth $2,637,000 after buying an additional 300 shares during the period. Prudential Financial Inc. lifted its position in shares of AvalonBay Communities by 76.6% during the 3rd quarter. Prudential Financial Inc. now owns 337,923 shares of the real estate investment trust’s stock worth $60,292,000 after buying an additional 146,610 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of AvalonBay Communities by 3.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 277,745 shares of the real estate investment trust’s stock worth $49,555,000 after buying an additional 9,911 shares during the period. AXA lifted its position in shares of AvalonBay Communities by 5.5% during the 3rd quarter. AXA now owns 117,895 shares of the real estate investment trust’s stock worth $21,034,000 after buying an additional 6,096 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of AvalonBay Communities by 1.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 215,600 shares of the real estate investment trust’s stock worth $38,467,000 after buying an additional 2,581 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.
Several research firms recently commented on AVB. Robert W. Baird restated a “buy” rating and set a $187.00 target price on shares of AvalonBay Communities in a research report on Tuesday, January 9th. JPMorgan Chase & Co. downgraded AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a research report on Friday, December 15th. BMO Capital Markets restated a “hold” rating and set a $190.00 target price on shares of AvalonBay Communities in a research report on Monday, November 27th. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and raised their target price for the stock from $190.00 to $206.00 in a research report on Thursday, November 9th. Finally, Royal Bank of Canada cut their price objective on AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $200.40.
In other news, CEO Timothy J. Naughton sold 25,160 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was 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 have sold 30,660 shares of company stock valued at $5,628,669. 0.46% of the stock is currently owned by corporate insiders.
AvalonBay Communities, Inc. (NYSE AVB) opened at $168.23 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities, Inc. has a 52-week low of $167.51 and a 52-week high of $199.52. The stock has a market capitalization of $23,230.54, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.49 and a beta of 0.35.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. During the same quarter in the previous year, the firm posted $2.11 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities research analysts expect that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. AvalonBay Communities’s payout ratio is currently 88.75%.
AvalonBay Communities Profile
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.
Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVB).
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.