Metropolitan Life Insurance Co. NY lowered its stake in AvalonBay Communities Inc (NYSE:AVB) by 60.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,659 shares of the real estate investment trust’s stock after selling 43,939 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in AvalonBay Communities were worth $5,113,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Bartlett & Co. LLC grew its stake 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 worth $121,000 after buying an additional 361 shares during the last quarter. Amica Retiree Medical Trust purchased a new stake in shares of AvalonBay Communities in the 3rd quarter worth approximately $132,000. Keeler Thomas Management LLC purchased a new stake in shares of AvalonBay Communities in the 4th quarter worth approximately $166,000. NuWave Investment Management LLC purchased a new stake in shares of AvalonBay Communities in the 4th quarter worth approximately $181,000. Finally, MUFG Americas Holdings Corp purchased a new stake in shares of AvalonBay Communities in the 4th quarter worth approximately $189,000. Institutional investors own 94.72% of the company’s stock.
AVB has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 target price on the stock. in a research note on Friday, December 15th. Robert W. Baird reiterated a “buy” rating and set a $187.00 target price on shares of AvalonBay Communities in a research note on Tuesday, January 9th. SunTrust Banks reiterated a “buy” rating and set a $186.00 target price on shares of AvalonBay Communities in a research note on Friday, February 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 target price on shares of AvalonBay Communities in a research note on Friday, January 19th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $185.00 target price on shares of AvalonBay Communities in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. AvalonBay Communities has an average rating of “Hold” and an average price target of $191.06.
AvalonBay Communities stock opened at $165.75 on Monday. The firm has a market capitalization of $22,889.33, a price-to-earnings ratio of 26.06, a PEG ratio of 2.58 and a beta of 0.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.19. AvalonBay Communities Inc has a twelve month low of $152.65 and a twelve month 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, beating the consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million for the quarter, compared to analysts’ expectations of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS. sell-side analysts predict that AvalonBay Communities Inc will post 8.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.55%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s dividend payout ratio is presently 89.31%.
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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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