Daiwa Securities Group Inc. decreased its holdings in AvalonBay Communities Inc (NYSE:AVB) by 7.9% during the 4th quarter, HoldingsChannel reports. The fund owned 27,167 shares of the real estate investment trust’s stock after selling 2,330 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AvalonBay Communities were worth $4,728,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. M&T Bank Corp boosted its stake in AvalonBay Communities by 0.5% during the 4th quarter. M&T Bank Corp now owns 11,665 shares of the real estate investment trust’s stock valued at $2,031,000 after purchasing an additional 54 shares in the last quarter. Baldwin Brothers Inc. MA boosted its stake in AvalonBay Communities by 1.8% during the 4th quarter. Baldwin Brothers Inc. MA now owns 39,652 shares of the real estate investment trust’s stock valued at $6,901,000 after purchasing an additional 708 shares in the last quarter. ETF Managers Group LLC boosted its stake in AvalonBay Communities by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 793 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 108 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in AvalonBay Communities by 3.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,474 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 192 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in AvalonBay Communities by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 40,511 shares of the real estate investment trust’s stock valued at $7,051,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.
A number of equities analysts have issued reports on the company. BTIG Research raised AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $216.00 price target for the company in a research note on Thursday, December 6th. ValuEngine lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Morgan Stanley increased their price target on AvalonBay Communities from $168.00 to $194.00 and gave the company an “equal weight” rating in a research note on Monday, December 17th. BMO Capital Markets raised AvalonBay Communities from a “market perform” rating to an “outperform” rating and increased their price target for the company from $188.00 to $195.00 in a research note on Friday, November 2nd. Finally, Zacks Investment Research lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of “Hold” and an average price target of $195.50.
In other news, COO Sean J. Breslin sold 3,100 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $189.13, for a total transaction of $586,303.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward M. Schulman sold 1,400 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $183.76, for a total value of $257,264.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,953 shares of company stock valued at $7,096,213 in the last quarter. Insiders own 0.43% of the company’s stock.
Shares of NYSE:AVB opened at $195.05 on Tuesday. AvalonBay Communities Inc has a one year low of $152.65 and a one year high of $196.16. The firm has a market cap of $26.88 billion, a PE ratio of 21.67, a P/E/G ratio of 3.24 and a beta of 0.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, February 4th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). AvalonBay Communities had a net margin of 42.66% and a return on equity of 9.33%. The company had revenue of $578.52 million for the quarter, compared to analyst estimates of $576.56 million. During the same quarter last year, the company posted $1.72 EPS. AvalonBay Communities’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that AvalonBay Communities Inc will post 9.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.47. AvalonBay Communities’s dividend payout ratio is 65.33%.
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AvalonBay Communities Company Profile
As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 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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