Commonwealth Bank of Australia lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,690 shares of the real estate investment trust’s stock after selling 1,409 shares during the quarter. Commonwealth Bank of Australia’s holdings in AvalonBay Communities were worth $1,093,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in AvalonBay Communities by 1.9% during the first quarter. Vanguard Group Inc. now owns 21,857,497 shares of the real estate investment trust’s stock valued at $4,013,036,000 after purchasing an additional 406,218 shares in the last quarter. BlackRock Inc. lifted its holdings in AvalonBay Communities by 2,676.8% during the first quarter. BlackRock Inc. now owns 14,398,025 shares of the real estate investment trust’s stock valued at $2,643,476,000 after purchasing an additional 13,879,505 shares in the last quarter. FMR LLC lifted its holdings in AvalonBay Communities by 21.5% during the first quarter. FMR LLC now owns 4,372,295 shares of the real estate investment trust’s stock valued at $802,753,000 after purchasing an additional 773,410 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in AvalonBay Communities by 0.9% during the second quarter. Principal Financial Group Inc. now owns 2,793,421 shares of the real estate investment trust’s stock valued at $536,811,000 after purchasing an additional 25,486 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in AvalonBay Communities by 7.3% during the second quarter. Daiwa Securities Group Inc. now owns 2,774,022 shares of the real estate investment trust’s stock valued at $533,084,000 after purchasing an additional 188,396 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of AvalonBay Communities, Inc. (AVB) opened at 178.52 on Friday. AvalonBay Communities, Inc. has a 12 month low of $158.32 and a 12 month high of $199.52. The company has a 50-day moving average of $187.92 and a 200 day moving average of $188.99. The company has a market cap of $24.58 billion, a PE ratio of 24.59 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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.05). The firm had revenue of $530.51 million during the quarter, compared to analysts’ expectations 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 posted $2.03 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $1.42 dividend. The ex-dividend date is Thursday, September 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.18%. AvalonBay Communities’s payout ratio is currently 78.13%.
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AVB has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target on the stock. in a report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $203.00 price target on shares of AvalonBay Communities in a report on Sunday, July 16th. BidaskClub downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Argus assumed coverage on shares of AvalonBay Communities in a report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $209.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $195.47.
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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