Intact Investment Management Inc. boosted its position in AvalonBay Communities Inc (NYSE:AVB) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,200 shares of the real estate investment trust’s stock after purchasing an additional 1,500 shares during the period. Intact Investment Management Inc.’s holdings in AvalonBay Communities were worth $4,234,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in AVB. Duncker Streett & Co. Inc. acquired a new stake in AvalonBay Communities during the fourth quarter valued at approximately $34,000. Muzinich & Co. Inc. grew its stake in AvalonBay Communities by 18.8% in the 4th quarter. Muzinich & Co. Inc. now owns 291 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 46 shares during the last quarter. Evoke Wealth LLC acquired a new position in AvalonBay Communities in the 3rd quarter valued at $69,000. Rational Advisors LLC grew its stake in AvalonBay Communities by 132.4% in the 4th quarter. Rational Advisors LLC now owns 330 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 188 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its position in AvalonBay Communities by 40.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 386 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.
AVB traded up $0.95 during trading on Thursday, reaching $141.73. The company had a trading volume of 122,632 shares, compared to its average volume of 1,393,804. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.40. AvalonBay Communities Inc has a 12 month low of $118.17 and a 12 month high of $229.40. The business’s fifty day moving average price is $201.76 and its 200 day moving average price is $210.66. The company has a market cap of $17.94 billion, a P/E ratio of 25.13, a PEG ratio of 2.50 and a beta of 0.56.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.20). AvalonBay Communities had a net margin of 35.42% and a return on equity of 7.26%. The company had revenue of $593.52 million during the quarter, compared to analysts’ expectations of $593.59 million. During the same quarter last year, the company earned $2.31 earnings per share. AvalonBay Communities’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that AvalonBay Communities Inc will post 9.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.49%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.52. The ex-dividend date of this dividend is Monday, March 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 65.10%.
Several equities analysts recently issued reports on AVB shares. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price target for the company in a report on Wednesday, January 15th. Jefferies Financial Group upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and lifted their price target for the stock from $234.00 to $248.00 in a research report on Thursday, January 16th. TheStreet cut shares of AvalonBay Communities from a “b-” rating to a “c+” rating in a research report on Thursday, March 19th. Piper Sandler cut shares of AvalonBay Communities from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $223.00 to $140.00 in a research report on Thursday. Finally, SunTrust Banks boosted their price objective on shares of AvalonBay Communities from $222.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $222.12.
AvalonBay Communities Company 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.
Further Reading: Buy Rating
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