Lasalle Investment Management Securities LLC Purchases 12,037 Shares of AvalonBay Communities, Inc. $AVB

Lasalle Investment Management Securities LLC increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 332,878 shares of the real estate investment trust’s stock after buying an additional 12,037 shares during the quarter. AvalonBay Communities accounts for about 2.4% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 18th biggest holding. Lasalle Investment Management Securities LLC’s holdings in AvalonBay Communities were worth $60,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Metis Global Partners LLC boosted its stake in AvalonBay Communities by 21.0% during the 3rd quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock worth $8,646,000 after acquiring an additional 7,780 shares during the last quarter. Pensionfund PDN acquired a new stake in AvalonBay Communities during the 4th quarter worth approximately $3,648,000. Thrivent Financial for Lutherans raised its holdings in AvalonBay Communities by 3.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock worth $41,754,000 after buying an additional 6,511 shares during the period. Sun Life Financial Inc. raised its holdings in AvalonBay Communities by 5.7% during the 3rd quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock worth $31,117,000 after buying an additional 8,660 shares during the period. Finally, Nordea Investment Management AB raised its holdings in AvalonBay Communities by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock worth $80,449,000 after buying an additional 17,352 shares during the period. Institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on AVB shares. Barclays dropped their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company dropped their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Cantor Fitzgerald raised their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Citigroup dropped their target price on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $197.73.

AvalonBay Communities Price Performance

NYSE AVB opened at $182.68 on Monday. The company has a market capitalization of $25.41 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.17 and a beta of 0.78. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $209.86. The firm’s 50 day moving average is $175.35 and its 200-day moving average is $177.10. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The firm had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter in the previous year, the firm posted $2.83 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

AvalonBay Communities Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.