Gyroscope Capital Management Group LLC Has $502,000 Stock Position in AvalonBay Communities Inc (NYSE:AVB)

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Gyroscope Capital Management Group LLC lifted its stake in AvalonBay Communities Inc (NYSE:AVB) by 19.6% in the third quarter, HoldingsChannel reports. The firm owned 2,302 shares of the real estate investment trust’s stock after purchasing an additional 378 shares during the period. Gyroscope Capital Management Group LLC’s holdings in AvalonBay Communities were worth $502,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC boosted its position in shares of AvalonBay Communities by 6.5% in the 2nd quarter. United Capital Financial Advisers LLC now owns 2,588 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 159 shares during the period. Jennison Associates LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $229,000. O Shares Investment Advisers LLC boosted its position in shares of AvalonBay Communities by 6.3% in the 2nd quarter. O Shares Investment Advisers LLC now owns 13,865 shares of the real estate investment trust’s stock valued at $2,817,000 after purchasing an additional 816 shares during the period. Hartford Investment Management Co. boosted its position in shares of AvalonBay Communities by 1.2% in the 2nd quarter. Hartford Investment Management Co. now owns 15,334 shares of the real estate investment trust’s stock valued at $3,116,000 after purchasing an additional 176 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of AvalonBay Communities by 19.9% in the 2nd quarter. HighTower Advisors LLC now owns 6,152 shares of the real estate investment trust’s stock valued at $1,244,000 after purchasing an additional 1,021 shares during the period. Institutional investors and hedge funds own 92.46% of the company’s stock.

In other news, EVP William M. Mclaughlin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $215.11, for a total transaction of $537,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $214.00, for a total value of $428,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,801 shares of company stock valued at $1,243,499 over the last ninety days. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities stock traded down $0.12 during mid-day trading on Friday, hitting $218.56. The company’s stock had a trading volume of 152,485 shares, compared to its average volume of 727,637. The firm’s 50 day moving average is $212.51 and its 200 day moving average is $206.25. The company has a market cap of $30.41 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 4.04 and a beta of 0.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.08. AvalonBay Communities Inc has a 52-week low of $167.01 and a 52-week high of $219.71.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.31 by ($1.10). AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. The firm had revenue of $577.26 million for the quarter, compared to analysts’ expectations of $572.69 million. During the same period last year, the business earned $2.23 earnings per share. As a group, analysts forecast that AvalonBay Communities Inc will post 9.32 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, September 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.

Several brokerages recently issued reports on AVB. Wells Fargo & Co increased their price objective on AvalonBay Communities from $218.00 to $224.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Barclays reduced their price objective on AvalonBay Communities from $228.00 to $226.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. KeyCorp increased their price objective on AvalonBay Communities from $212.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on AvalonBay Communities from $214.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Citigroup increased their price objective on AvalonBay Communities from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $214.21.

AvalonBay Communities Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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