US Bancorp DE trimmed its holdings in AvalonBay Communities (NYSE:AVB) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,518 shares of the real estate investment trust’s stock after selling 2,449 shares during the quarter. US Bancorp DE’s holdings in AvalonBay Communities were worth $3,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of AVB. Centersquare Investment Management LLC bought a new position in shares of AvalonBay Communities in the 1st quarter worth about $371,706,000. PGGM Investments increased its stake in shares of AvalonBay Communities by 21.4% in the 4th quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock worth $355,571,000 after acquiring an additional 350,790 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of AvalonBay Communities by 9.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock worth $623,200,000 after acquiring an additional 308,139 shares in the last quarter. Barings LLC increased its stake in shares of AvalonBay Communities by 5,739.5% in the 4th quarter. Barings LLC now owns 253,961 shares of the real estate investment trust’s stock worth $45,309,000 after acquiring an additional 249,612 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of AvalonBay Communities by 367.7% in the 4th quarter. American Century Companies Inc. now owns 308,596 shares of the real estate investment trust’s stock worth $55,057,000 after acquiring an additional 242,612 shares in the last quarter. Institutional investors own 93.10% of the company’s stock.
Shares of AVB stock opened at $161.76 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The stock has a market cap of $22.36 billion, a P/E ratio of 18.57, a PEG ratio of 2.47 and a beta of 0.35. AvalonBay Communities has a one year low of $152.65 and a one year high of $199.52.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($1.16). The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $556.23 million. AvalonBay Communities had a net margin of 35.62% and a return on equity of 7.57%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. analysts forecast that AvalonBay Communities will post 8.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Thursday, June 28th. AvalonBay Communities’s payout ratio is presently 68.21%.
Several brokerages recently issued reports on AVB. ValuEngine lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus decreased their price target on shares of AvalonBay Communities from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, April 30th. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. Jefferies Group reiterated a “hold” rating and issued a $166.00 price target on shares of AvalonBay Communities in a research note on Friday, April 13th. Finally, Citigroup upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Friday, April 6th. 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $188.94.
AvalonBay Communities Profile
As of December 31, 2017, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,158 apartment homes in 12 states and the District of Columbia, of which 21 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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