Xact Kapitalforvaltning AB lifted its stake in AvalonBay Communities Inc (NYSE:AVB) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,764 shares of the real estate investment trust’s stock after acquiring an additional 1,197 shares during the period. Xact Kapitalforvaltning AB’s holdings in AvalonBay Communities were worth $5,059,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of AVB. Centersquare Investment Management LLC acquired a new stake in shares of AvalonBay Communities in the 1st quarter worth approximately $371,706,000. Brookfield Asset Management Inc. acquired a new stake in shares of AvalonBay Communities in the 1st quarter worth approximately $147,965,000. Long Pond Capital LP lifted its stake in shares of AvalonBay Communities by 214.0% in the 1st quarter. Long Pond Capital LP now owns 447,296 shares of the real estate investment trust’s stock worth $73,562,000 after acquiring an additional 304,838 shares during the period. Principal Financial Group Inc. lifted its stake in shares of AvalonBay Communities by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 3,092,546 shares of the real estate investment trust’s stock worth $508,600,000 after acquiring an additional 232,456 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of AvalonBay Communities by 332.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 197,892 shares of the real estate investment trust’s stock worth $35,307,000 after acquiring an additional 152,092 shares during the period. 93.16% of the stock is owned by institutional investors.
AVB stock opened at $169.91 on Friday. AvalonBay Communities Inc has a 52-week low of $152.65 and a 52-week high of $196.13. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The company has a market cap of $23.40 billion, a PE ratio of 19.71, a PEG ratio of 2.57 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last released 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 net margin of 35.62% and a return on equity of 7.57%. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $556.23 million. During the same quarter in the prior year, the firm earned $2.09 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. equities research analysts anticipate that AvalonBay Communities Inc will post 8.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.46%. AvalonBay Communities’s dividend payout ratio is currently 68.21%.
AVB has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of AvalonBay Communities from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, April 30th. Bank of America boosted their target price on shares of AvalonBay Communities from $197.00 to $198.00 and gave the stock a “hold” rating in a report on Friday, June 8th. BTIG Research dropped their target price on shares of AvalonBay Communities to $189.00 and set a “buy” rating on the stock in a report on Thursday, March 15th. Morgan Stanley dropped their target price on shares of AvalonBay Communities from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Thursday, June 14th. Finally, ValuEngine downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two investment 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. The stock currently has a consensus rating of “Hold” and a consensus target price 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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