14,641 Shares in AvalonBay Communities, Inc. $AVB Purchased by OP Asset Management Ltd

OP Asset Management Ltd purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,641 shares of the real estate investment trust’s stock, valued at approximately $2,392,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pensionfund PDN purchased a new position in AvalonBay Communities during the 4th quarter valued at $3,648,000. Nordea Investment Management AB lifted its position in shares of AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock worth $80,449,000 after purchasing an additional 17,352 shares during the period. First Trust Advisors LP lifted its position in shares of AvalonBay Communities by 6.4% in the 3rd quarter. First Trust Advisors LP now owns 223,074 shares of the real estate investment trust’s stock worth $43,091,000 after purchasing an additional 13,356 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $11,058,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $26,237,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 2.1%

NYSE:AVB opened at $190.13 on Friday. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $206.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50-day simple moving average is $182.76 and its 200 day simple moving average is $177.81. The firm has a market capitalization of $26.45 billion, a P/E ratio of 27.56, a PEG ratio of 3.31 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same period last year, the business earned $2.83 EPS. As a group, analysts forecast that AvalonBay Communities, Inc. will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

Analyst Ratings Changes

AVB has been the subject of a number of research reports. Morgan Stanley reissued an “equal weight” rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. UBS Group cut their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Scotiabank reduced their target price on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a report on Thursday, May 14th. Cantor Fitzgerald increased their target price on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada raised their target price on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $195.13.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.