Candriam Luxembourg S.C.A. lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 6.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,496 shares of the real estate investment trust’s stock after buying an additional 716 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in AvalonBay Communities were worth $2,051,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank raised its holdings in shares of AvalonBay Communities by 1.1% in the third quarter. Swiss National Bank now owns 858,580 shares of the real estate investment trust’s stock valued at $153,188,000 after buying an additional 9,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of AvalonBay Communities by 5.0% in the third quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after buying an additional 138,649 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of AvalonBay Communities by 3.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,754 shares of the real estate investment trust’s stock valued at $2,632,000 after buying an additional 479 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of AvalonBay Communities in the third quarter valued at about $336,000. Finally, State of Wisconsin Investment Board raised its holdings in shares of AvalonBay Communities by 7.2% in the third quarter. State of Wisconsin Investment Board now owns 174,268 shares of the real estate investment trust’s stock valued at $31,093,000 after buying an additional 11,694 shares during the last quarter. 96.85% of the stock is owned by institutional investors and hedge funds.
AvalonBay Communities, Inc. (NYSE:AVB) opened at $186.09 on Friday. The stock has a market capitalization of $25,700.00, a PE ratio of 21.75, a PEG ratio of 2.90 and a beta of 0.36. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. AvalonBay Communities’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.11 earnings per share. equities research analysts predict that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.05%. AvalonBay Communities’s payout ratio is currently 89.03%.
A number of research analysts recently issued reports on AVB shares. The Goldman Sachs Group, Inc. cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target for the company. in a report on Tuesday, September 5th. Stifel Nicolaus reissued a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective for the company in a report on Monday, September 25th. Finally, BidaskClub cut AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $199.27.
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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