HGK Asset Management Inc. Purchases Shares of 50,829 AvalonBay Communities Inc (AVB)

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HGK Asset Management Inc. purchased a new position in shares of AvalonBay Communities Inc (NYSE:AVB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,829 shares of the real estate investment trust’s stock, valued at approximately $8,737,000.

Several other hedge funds have also modified their holdings of AVB. Global X Management Co. LLC lifted its holdings in shares of AvalonBay Communities by 23.0% during the first quarter. Global X Management Co. LLC now owns 4,932 shares of the real estate investment trust’s stock worth $811,000 after buying an additional 923 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of AvalonBay Communities by 18.1% during the first quarter. Daiwa Securities Group Inc. now owns 26,637 shares of the real estate investment trust’s stock worth $4,381,000 after buying an additional 4,087 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in shares of AvalonBay Communities by 28.1% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 92,165 shares of the real estate investment trust’s stock worth $15,055,000 after buying an additional 20,237 shares during the last quarter. American Assets Investment Management LLC lifted its holdings in shares of AvalonBay Communities by 192.3% during the first quarter. American Assets Investment Management LLC now owns 15,200 shares of the real estate investment trust’s stock worth $2,500,000 after buying an additional 10,000 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of AvalonBay Communities by 2.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,961 shares of the real estate investment trust’s stock worth $7,559,000 after buying an additional 884 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.

In related news, CFO Kevin P. O’shea sold 2,000 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $179.85, for a total value of $359,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.43% of the company’s stock.

A number of research analysts have recently commented on the company. Zelman & Associates lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Monday, August 6th. Mizuho reiterated a “buy” rating and set a $212.00 price target on shares of AvalonBay Communities in a report on Monday, August 6th. Robert W. Baird lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price target for the company. in a report on Wednesday, August 15th. Argus upped their price target on AvalonBay Communities to $196.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. Finally, ValuEngine upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $192.72.

Shares of NYSE AVB opened at $183.20 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $24.49 billion, a P/E ratio of 21.25, a PEG ratio of 2.59 and a beta of 0.39. AvalonBay Communities Inc has a one year low of $152.65 and a one year high of $191.20.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, July 30th. The real estate investment trust reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.36). The firm had revenue of $569.24 million during the quarter, compared to analyst estimates of $565.41 million. AvalonBay Communities had a net margin of 39.01% and a return on equity of 8.42%. During the same quarter in the previous year, the company posted $2.09 earnings per share. equities analysts anticipate that AvalonBay Communities Inc will post 9 EPS for the current year.

About AvalonBay Communities

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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