State of Wisconsin Investment Board lifted its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 176,377 shares of the real estate investment trust’s stock after buying an additional 2,109 shares during the quarter. State of Wisconsin Investment Board’s holdings in AvalonBay Communities were worth $31,467,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in AVB. Candriam Luxembourg S.C.A. raised its holdings in AvalonBay Communities by 6.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock worth $2,051,000 after buying an additional 716 shares during the last quarter. Magnetar Financial LLC acquired a new position in AvalonBay Communities during the third quarter worth $772,000. Prudential Financial Inc. raised its holdings in AvalonBay Communities by 76.6% during the third 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 last quarter. Cubist Systematic Strategies LLC raised its holdings in AvalonBay Communities by 91.2% during the third quarter. Cubist Systematic Strategies LLC now owns 2,250 shares of the real estate investment trust’s stock worth $401,000 after buying an additional 1,073 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in AvalonBay Communities during the third quarter worth $624,000. Institutional investors own 95.84% of the company’s stock.
Several research analysts have weighed in on the stock. SunTrust Banks restated a “buy” rating and set a $186.00 price objective on shares of AvalonBay Communities in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Cantor Fitzgerald restated a “hold” rating and set a $185.00 price objective on shares of AvalonBay Communities in a report on Thursday, February 1st. BMO Capital Markets restated a “hold” rating and set a $187.00 price objective on shares of AvalonBay Communities in a report on Wednesday, January 31st. Finally, Sandler O’Neill downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $194.82.
Shares of AvalonBay Communities Inc (NYSE:AVB) opened at $162.57 on Monday. AvalonBay Communities Inc has a one year low of $154.82 and a one year high of $199.52. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.71. The stock has a market cap of $22,448.95, a price-to-earnings ratio of 25.56, a PEG ratio of 2.52 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. research analysts expect that AvalonBay Communities Inc will post 9 earnings per share for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $5.88 annualized dividend and a yield of 3.62%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio is presently 89.31%.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total transaction of $4,625,414.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction 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 owned by company insiders.
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.
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.