Pensionfund Sabic increased its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 12.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,002 shares of the real estate investment trust’s stock after acquiring an additional 1,200 shares during the quarter. Pensionfund Sabic’s holdings in AvalonBay Communities were worth $1,891,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. raised its stake in AvalonBay Communities by 44.1% during the first quarter. Assetmark Inc. now owns 1,156 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 354 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in AvalonBay Communities during the first quarter worth about $201,000. Compagnie Lombard Odier SCmA acquired a new stake in AvalonBay Communities during the fourth quarter worth about $236,000. Miles Capital Inc. raised its stake in AvalonBay Communities by 32.6% during the first quarter. Miles Capital Inc. now owns 1,648 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 405 shares during the period. Finally, Bbva Compass Bancshares Inc. acquired a new stake in AvalonBay Communities during the first quarter worth about $284,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.
Shares of AvalonBay Communities stock traded down $1.88 on Monday, hitting $170.01. The company had a trading volume of 14,366 shares, compared to its average volume of 838,389. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $23.76 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.37. AvalonBay Communities Inc has a 52 week low of $152.65 and a 52 week high of $196.13.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($1.16). The company had revenue of $560.80 million during the quarter, compared to the consensus estimate of $556.23 million. AvalonBay Communities had a net margin of 35.62% and a return on equity of 7.57%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $2.09 earnings per share. analysts forecast that AvalonBay Communities Inc will post 8.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 68.21%.
AVB has been the subject of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $166.00 target price on shares of AvalonBay Communities in a research report on Friday, April 13th. BTIG Research decreased their target price on shares of AvalonBay Communities to $189.00 and set a “buy” rating for the company in a research report on Thursday, March 15th. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, April 17th. Morgan Stanley decreased their target price on shares of AvalonBay Communities from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Thursday, June 14th. Finally, Citigroup upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Friday, April 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $189.32.
AvalonBay Communities Company Profile
As of December 31, 2017, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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