OMERS ADMINISTRATION Corp Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

OMERS ADMINISTRATION Corp raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 20.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,939 shares of the real estate investment trust’s stock after purchasing an additional 998 shares during the period. OMERS ADMINISTRATION Corp’s holdings in AvalonBay Communities were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVB. JPMorgan Chase & Co. lifted its stake in AvalonBay Communities by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after buying an additional 55,588 shares during the last quarter. Wedmont Private Capital raised its stake in AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 55 shares during the last quarter. Procyon Advisors LLC raised its stake in AvalonBay Communities by 6.9% during the 4th quarter. Procyon Advisors LLC now owns 16,137 shares of the real estate investment trust’s stock valued at $3,550,000 after acquiring an additional 1,038 shares during the last quarter. Avanza Fonder AB purchased a new stake in AvalonBay Communities during the 4th quarter valued at approximately $2,419,000. Finally, Merit Financial Group LLC purchased a new stake in AvalonBay Communities during the 4th quarter valued at approximately $476,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE AVB opened at $208.31 on Friday. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a market capitalization of $29.66 billion, a P/E ratio of 27.45, a PEG ratio of 3.11 and a beta of 0.86. The business has a 50 day moving average price of $205.73 and a 200 day moving average price of $216.79. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to analysts’ expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same quarter last year, the business posted $2.70 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on AVB shares. Morgan Stanley upped their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reduced their price objective on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Barclays upped their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Finally, BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price for the company. in a research note on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $239.93.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.