AvalonBay Communities Inc (AVB) Holdings Trimmed by State of Wisconsin Investment Board

State of Wisconsin Investment Board lessened its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,829 shares of the real estate investment trust’s stock after selling 3,941 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.12% of AvalonBay Communities worth $27,817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC lifted its stake in shares of AvalonBay Communities by 23.0% in the 1st quarter. Global X Management Co. LLC now owns 4,932 shares of the real estate investment trust’s stock valued at $811,000 after purchasing an additional 923 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of AvalonBay Communities by 18.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 26,637 shares of the real estate investment trust’s stock valued at $4,381,000 after purchasing an additional 4,087 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of AvalonBay Communities by 28.1% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 92,165 shares of the real estate investment trust’s stock valued at $15,055,000 after purchasing an additional 20,237 shares during the period. American Assets Investment Management LLC lifted its stake in shares of AvalonBay Communities by 192.3% in the 1st quarter. American Assets Investment Management LLC now owns 15,200 shares of the real estate investment trust’s stock valued at $2,500,000 after purchasing an additional 10,000 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of AvalonBay Communities by 2.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,961 shares of the real estate investment trust’s stock valued at $7,559,000 after purchasing an additional 884 shares during the period. 93.41% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Kevin P. O’shea sold 2,000 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $179.85, for a total transaction of $359,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.43% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on AVB shares. Bank of America boosted their target price on shares of AvalonBay Communities from $197.00 to $198.00 and gave the company a “hold” rating in a research note on Friday, June 8th. ValuEngine cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus decreased their target price on shares of AvalonBay Communities from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, April 30th. Zelman & Associates cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, Mizuho restated a “buy” rating and set a $212.00 price objective on shares of AvalonBay Communities in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $191.53.

AvalonBay Communities opened at $177.20 on Friday, Marketbeat.com reports. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 2.61 and a beta of 0.39. AvalonBay Communities Inc has a fifty-two week low of $152.65 and a fifty-two week high of $193.41.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, June 28th. AvalonBay Communities’s payout ratio is 68.21%.

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.

Further Reading: Understanding Average Daily Trade Volume

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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