JPMorgan Chase & Co. cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,846,402 shares of the real estate investment trust’s stock after selling 87,900 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.23% of AvalonBay Communities worth $1,044,168,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of AvalonBay Communities by 5.1% in the 3rd quarter. Legal & General Group Plc now owns 1,139,229 shares of the real estate investment trust’s stock worth $203,262,000 after buying an additional 55,121 shares during the period. Ffcm LLC boosted its stake in AvalonBay Communities by 49.9% in the 3rd quarter. Ffcm LLC now owns 16,088 shares of the real estate investment trust’s stock worth $2,871,000 after purchasing an additional 5,352 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in AvalonBay Communities by 3.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 249,437 shares of the real estate investment trust’s stock worth $44,487,000 after purchasing an additional 9,407 shares in the last quarter. South State Corp boosted its stake in AvalonBay Communities by 146.0% in the 3rd quarter. South State Corp now owns 8,855 shares of the real estate investment trust’s stock worth $1,580,000 after purchasing an additional 5,255 shares in the last quarter. Finally, Amica Pension Fund Board of Trustees bought a new position in AvalonBay Communities in the 3rd quarter worth about $871,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.
AvalonBay Communities, Inc. (AVB) opened at $184.63 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $25,495.19, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.36. AvalonBay Communities, Inc. has a one year low of $159.96 and a one year high of $199.52.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. AvalonBay Communities’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 EPS. equities research analysts forecast that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is currently 88.75%.
A number of equities analysts recently issued reports on AVB shares. Robert W. Baird reiterated a “buy” rating and issued a $202.00 price target on shares of AvalonBay Communities in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a research note on Friday, September 1st. Mizuho reiterated a “buy” rating and issued a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. UBS AG upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $199.27.
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AvalonBay Communities Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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