AvalonBay Communities (NYSE:AVB) Position Increased by Global X Management Co. LLC

Global X Management Co. LLC boosted its holdings in AvalonBay Communities (NYSE:AVB) by 23.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,932 shares of the real estate investment trust’s stock after acquiring an additional 923 shares during the quarter. Global X Management Co. LLC’s holdings in AvalonBay Communities were worth $811,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Xact Kapitalforvaltning AB lifted its position in AvalonBay Communities by 5.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 29,567 shares of the real estate investment trust’s stock valued at $5,275,000 after acquiring an additional 1,610 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its position in AvalonBay Communities by 16.2% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 545,586 shares of the real estate investment trust’s stock valued at $97,338,000 after acquiring an additional 76,040 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in AvalonBay Communities by 8.3% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 45,602 shares of the real estate investment trust’s stock valued at $8,136,000 after acquiring an additional 3,492 shares in the last quarter. Lazard Asset Management LLC lifted its position in AvalonBay Communities by 17.4% in the 4th quarter. Lazard Asset Management LLC now owns 20,991 shares of the real estate investment trust’s stock valued at $3,744,000 after acquiring an additional 3,104 shares in the last quarter. Finally, Strs Ohio lifted its position in AvalonBay Communities by 9.6% in the 4th quarter. Strs Ohio now owns 493,547 shares of the real estate investment trust’s stock valued at $88,053,000 after acquiring an additional 43,133 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of AVB stock opened at $158.52 on Friday. AvalonBay Communities has a 52-week low of $159.59 and a 52-week high of $161.34. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.35.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.19 by ($1.16). AvalonBay Communities had a return on equity of 7.57% and a net margin of 35.62%. The business had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $556.23 million. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. analysts expect that AvalonBay Communities will post 8.95 EPS for the current year.

Several research firms recently issued reports on AVB. BMO Capital Markets reaffirmed a “hold” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, January 31st. SunTrust Banks set a $194.00 price objective on AvalonBay Communities and gave the company a “buy” rating in a research report on Monday, January 22nd. 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. Barclays decreased their target price on shares of AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Finally, Jefferies Group reiterated a “hold” rating and set a $166.00 target price on shares of AvalonBay Communities in a research note on Friday, April 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. AvalonBay Communities has an average rating of “Hold” and a consensus target price of $188.94.

About AvalonBay Communities

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.

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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