Livforsakringsbolaget Skandia Omsesidigt decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 35.3% during the third quarter, Holdings Channel reports. The firm owned 8,200 shares of the real estate investment trust’s stock after selling 4,475 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AvalonBay Communities were worth $399,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of AVB. Wolverine Asset Management LLC acquired a new stake in shares of AvalonBay Communities during the second quarter valued at $125,000. First New York Securities LLC NY purchased a new position in AvalonBay Communities during the second quarter valued at approximately $144,000. IFP Advisors Inc raised its position in AvalonBay Communities by 0.3% in the second quarter. IFP Advisors Inc now owns 1,006 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 3 shares during the period. Wetherby Asset Management Inc. purchased a new position in AvalonBay Communities during the second quarter valued at approximately $201,000. Finally, Usca Ria LLC purchased a new position in AvalonBay Communities during the second quarter valued at approximately $211,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.
AvalonBay Communities, Inc. (NYSE:AVB) traded up 0.15% during mid-day trading on Wednesday, hitting $176.57. The company had a trading volume of 609,914 shares. AvalonBay Communities, Inc. has a 52-week low of $158.32 and a 52-week high of $192.29. The firm has a market cap of $24.25 billion, a P/E ratio of 25.62 and a beta of 0.35. The stock’s 50 day moving average price is $172.79 and its 200 day moving average price is $174.47.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $2.11 EPS for the quarter, meeting analysts’ consensus estimates of $2.11. AvalonBay Communities had a return on equity of 9.57% and a net margin of 50.39%. During the same period in the prior year, the company earned $2.02 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post $6.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Friday, December 30th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $5.40 annualized dividend and a yield of 3.06%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $0.01. AvalonBay Communities’s dividend payout ratio is presently 78.37%.
Several research analysts have commented on AVB shares. Zacks Investment Research lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. Bank of America Corporation lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $179.00 price target on the stock. in a research report on Wednesday, November 23rd. Evercore ISI raised AvalonBay Communities from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research report on Monday, November 28th. Cantor Fitzgerald set a $188.00 price target on AvalonBay Communities and gave the stock a “hold” rating in a research report on Monday, October 24th. Finally, Mizuho reaffirmed a “buy” rating on shares of AvalonBay Communities in a research report on Friday, December 23rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $192.62.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust. The Company focuses 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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