Toronto Dominion Bank boosted its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,481 shares of the real estate investment trust’s stock after buying an additional 7,116 shares during the period. Toronto Dominion Bank’s holdings in AvalonBay Communities were worth $10,612,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AVB. Bartlett & Co. LLC increased its position in shares of AvalonBay Communities by 112.8% in the 4th quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 361 shares during the period. Amica Retiree Medical Trust acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at $132,000. WFG Advisors LP grew its position in AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares during the period. Keeler Thomas Management LLC acquired a new stake in AvalonBay Communities during the 4th quarter worth about $166,000. Finally, NuWave Investment Management LLC acquired a new stake in AvalonBay Communities during the 4th quarter worth about $181,000. Institutional investors own 95.84% of the company’s stock.
In other news, insider Leo S. Horey III sold 2,000 shares of AvalonBay Communities stock in a transaction on Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of AvalonBay Communities stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total transaction of $273,975.00. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock valued at $5,628,669 in the last three months. 0.46% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on AVB. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $206.00 in a research report on Thursday, November 9th. BMO Capital Markets set a $178.00 target price on shares of AvalonBay Communities and gave the stock a “hold” rating in a research note on Monday, February 12th. Mizuho reissued a “buy” rating and set a $220.00 target price on shares of AvalonBay Communities in a research note on Monday, November 6th. SunTrust Banks reaffirmed a “buy” rating and issued a $186.00 price target on shares of AvalonBay Communities in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. lowered shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a research note on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $194.82.
AvalonBay Communities Inc (AVB) traded up $2.89 during trading on Friday, reaching $160.01. 520,237 shares of the company traded hands, compared to its average volume of 1,052,908. AvalonBay Communities Inc has a 12-month low of $154.82 and a 12-month high of $199.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $21,696.37, a P/E ratio of 25.16, a PEG ratio of 2.43 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The firm had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. During the same quarter last year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. research analysts predict that AvalonBay Communities Inc will post 9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio (DPR) is currently 89.31%.
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.
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