Lazard Asset Management LLC boosted its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,991 shares of the real estate investment trust’s stock after acquiring an additional 3,104 shares during the quarter. Lazard Asset Management LLC’s holdings in AvalonBay Communities were worth $3,744,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AVB. Capital Analysts LLC lifted its holdings in shares of AvalonBay Communities by 441.3% in the 4th quarter. Capital Analysts LLC now owns 2,230 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 1,818 shares during the period. Bartlett & Co. LLC lifted its holdings in shares of AvalonBay Communities by 112.8% in the 4th quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 361 shares during the period. Amica Retiree Medical Trust acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $132,000. Keeler Thomas Management LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at approximately $166,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at approximately $181,000. 94.72% of the stock is owned by institutional investors.
AvalonBay Communities Inc (NYSE:AVB) opened at $165.75 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $22,889.41, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.58 and a beta of 0.42. AvalonBay Communities Inc has a 1 year low of $152.65 and a 1 year high of $199.52.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.22 by $1.03. The company had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. AvalonBay Communities’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. sell-side analysts forecast that AvalonBay Communities Inc will post 8.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $1.47 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $5.88 annualized dividend and a yield of 3.55%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 89.31%.
Several research firms have recently commented on AVB. BTIG Research reduced their price target on AvalonBay Communities to $189.00 and set a “buy” rating for the company in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $187.00 price objective on shares of AvalonBay Communities in a report on Wednesday, January 31st. Robert W. Baird set a $178.00 price objective on AvalonBay Communities and gave the stock a “buy” rating in a report on Friday, March 2nd. Mizuho set a $185.00 price objective on AvalonBay Communities and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Sandler O’Neill cut AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of “Hold” and an average target price of $191.06.
About AvalonBay Communities
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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