RB Capital Management LLC boosted its stake in AvalonBay Communities Inc (NYSE:AVB) by 9.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,171 shares of the real estate investment trust’s stock after buying an additional 105 shares during the period. RB Capital Management LLC’s holdings in AvalonBay Communities were worth $257,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in AvalonBay Communities by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,446,914 shares of the real estate investment trust’s stock valued at $4,154,404,000 after buying an additional 195,316 shares during the last quarter. BlackRock Inc. grew its stake in AvalonBay Communities by 0.5% in the 2nd quarter. BlackRock Inc. now owns 16,102,048 shares of the real estate investment trust’s stock valued at $3,271,615,000 after buying an additional 82,949 shares during the last quarter. FMR LLC grew its stake in AvalonBay Communities by 1.3% in the 1st quarter. FMR LLC now owns 3,762,824 shares of the real estate investment trust’s stock valued at $755,312,000 after buying an additional 47,236 shares during the last quarter. Invesco Ltd. grew its stake in AvalonBay Communities by 4.8% in the 2nd quarter. Invesco Ltd. now owns 3,234,162 shares of the real estate investment trust’s stock valued at $657,116,000 after buying an additional 146,838 shares during the last quarter. Finally, Northern Trust Corp grew its stake in AvalonBay Communities by 3.0% in the 2nd quarter. Northern Trust Corp now owns 2,589,402 shares of the real estate investment trust’s stock valued at $526,115,000 after buying an additional 76,361 shares during the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.
In other news, EVP Edward M. Schulman sold 1,301 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $213.47, for a total transaction of $277,724.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William M. Mclaughlin sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $215.11, for a total transaction of $537,775.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,801 shares of company stock valued at $1,243,499. 0.42% of the stock is currently owned by insiders.
NYSE AVB opened at $218.08 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $30.55 billion, a P/E ratio of 23.88, a P/E/G ratio of 4.06 and a beta of 0.49. AvalonBay Communities Inc has a 12-month low of $167.01 and a 12-month high of $219.71. The firm has a 50-day moving average price of $212.73 and a two-hundred day moving average price of $206.34.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.31 by ($1.10). The business had revenue of $577.26 million during the quarter, compared to the consensus estimate of $572.69 million. AvalonBay Communities had a net margin of 41.83% and a return on equity of 8.63%. During the same period in the prior year, the firm earned $2.23 EPS. Equities analysts expect that AvalonBay Communities Inc will post 9.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, September 27th. AvalonBay Communities’s dividend payout ratio is currently 67.56%.
A number of brokerages recently commented on AVB. Zelman & Associates upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $214.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Citigroup upped their price target on shares of AvalonBay Communities from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. SunTrust Banks boosted their price objective on shares of AvalonBay Communities from $211.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. They noted that the move was a valuation call. Finally, BTIG Research boosted their price objective on shares of AvalonBay Communities to $235.00 and gave the company a “positive” rating in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price 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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