Magnetar Financial LLC acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,329 shares of the real estate investment trust’s stock, valued at approximately $772,000.

Other large investors have also recently added to or reduced their stakes in the company. Ffcm LLC increased its position in shares of AvalonBay Communities by 6.6% during the 2nd quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock valued at $2,064,000 after purchasing an additional 667 shares during the last quarter. AXA increased its position in shares of AvalonBay Communities by 7.7% during the 2nd quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock valued at $21,485,000 after purchasing an additional 7,981 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of AvalonBay Communities by 6.6% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock valued at $2,051,000 after purchasing an additional 716 shares during the last quarter. Koch Industries Inc. bought a new position in AvalonBay Communities in the 2nd quarter valued at $365,000. Finally, PGGM Investments grew its position in AvalonBay Communities by 5.6% in the 3rd quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after acquiring an additional 86,594 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of AvalonBay Communities, Inc. (AVB) opened at $182.81 on Tuesday. AvalonBay Communities, Inc. has a 1-year low of $168.30 and a 1-year high of $199.52. The firm has a market capitalization of $25,162.38, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 2.86 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. During the same quarter in the prior year, the company posted $2.11 earnings per share. AvalonBay Communities’s quarterly revenue was up 6.6% compared to the same quarter last year. sell-side analysts predict that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is 88.75%.

Several brokerages have commented on AVB. Robert W. Baird reaffirmed a “buy” rating and issued a $202.00 price objective on shares of AvalonBay Communities in a research report on Friday, September 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 27th. Stifel Nicolaus cut their price objective on AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Deutsche Bank upped their price objective on AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Finally, Mizuho reaffirmed a “buy” rating and issued a $220.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. AvalonBay Communities has a consensus rating of “Hold” and an average price target of $200.71.

In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

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About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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