JPMorgan Chase & Co. lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,934,302 shares of the real estate investment trust’s stock after selling 421,768 shares during the quarter. JPMorgan Chase & Co. owned about 4.32% of AvalonBay Communities worth $1,140,395,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning grew its stake in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2 shares during the period. Muzinich & Co. Inc. boosted its position in shares of AvalonBay Communities by 104.0% during the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 339 shares during the period. Perigon Wealth Management LLC boosted its position in shares of AvalonBay Communities by 546.9% during the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 875 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of AvalonBay Communities during the second quarter worth about $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of AvalonBay Communities during the second quarter worth about $206,000. Institutional investors and hedge funds own 97.54% of the company’s stock.
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Shares of AvalonBay Communities, Inc. (NYSE AVB) opened at 183.77 on Friday. The company’s 50-day moving average price is $188.49 and its 200-day moving average price is $188.91. AvalonBay Communities, Inc. has a 12 month low of $158.32 and a 12 month high of $199.52. The firm has a market cap of $25.31 billion, a P/E ratio of 25.31 and a beta of 0.35.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by ($0.05). The firm had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same quarter in the previous year, the business earned $2.03 earnings per share. On average, analysts predict that AvalonBay Communities, Inc. will post $5.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, September 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.09%. AvalonBay Communities’s payout ratio is 78.13%.
Several research analysts have recently weighed in on AVB shares. BidaskClub cut AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets reissued a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Deutsche Bank AG increased their price target on AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target for the company. in a research report on Tuesday, September 5th. Finally, Argus began coverage on AvalonBay Communities in a research report on Thursday, June 22nd. They set a “buy” rating and a $220.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $195.47.
AvalonBay Communities Company 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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