Oregon Public Employees Retirement Fund decreased its stake in AvalonBay Communities Inc (NYSE:AVB) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,393 shares of the real estate investment trust’s stock after selling 554 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AvalonBay Communities were worth $2,809,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $34,000. KCS Wealth Advisory acquired a new stake in shares of AvalonBay Communities in the third quarter valued at about $67,000. Evoke Wealth LLC acquired a new position in AvalonBay Communities during the third quarter worth about $69,000. FNY Investment Advisers LLC raised its position in AvalonBay Communities by 179.7% during the third quarter. FNY Investment Advisers LLC now owns 386 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 248 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in AvalonBay Communities by 62.5% during the third quarter. Quadrant Capital Group LLC now owns 421 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.
A number of equities analysts have issued reports on the stock. BMO Capital Markets cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price for the company. in a research report on Tuesday, January 7th. SunTrust Banks lifted their target price on shares of AvalonBay Communities from $218.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI upgraded shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $225.00 target price for the company in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and set a $230.00 target price for the company in a research report on Wednesday, December 18th. Finally, Deutsche Bank lifted their target price on shares of AvalonBay Communities from $218.00 to $221.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Buy” and an average price target of $226.69.
In other news, COO Sean J. Breslin sold 777 shares of AvalonBay Communities stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $213.51, for a total transaction of $165,897.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.
Shares of NYSE AVB opened at $227.53 on Friday. The company has a market cap of $31.51 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 3.74 and a beta of 0.48. AvalonBay Communities Inc has a 12 month low of $191.42 and a 12 month high of $228.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50-day simple moving average of $214.41 and a 200-day simple moving average of $212.79.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.20). The firm had revenue of $593.52 million for the quarter, compared to analysts’ expectations of $593.59 million. AvalonBay Communities had a return on equity of 7.26% and a net margin of 35.42%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 earnings per share. On average, analysts anticipate that AvalonBay Communities Inc will post 9.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.59 per share. The ex-dividend date is Monday, March 30th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.52. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.80%. AvalonBay Communities’s payout ratio is 65.10%.
About AvalonBay Communities
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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