Alps Advisors Inc. lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,254 shares of the real estate investment trust’s stock after selling 1,382 shares during the period. Alps Advisors Inc.’s holdings in AvalonBay Communities were worth $1,830,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Candriam Luxembourg S.C.A. raised its stake in shares of AvalonBay Communities by 6.6% in 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 acquiring an additional 716 shares during the period. Swiss National Bank raised its stake in shares of AvalonBay Communities by 1.1% in the 3rd quarter. Swiss National Bank now owns 858,580 shares of the real estate investment trust’s stock valued at $153,188,000 after acquiring an additional 9,000 shares during the period. Principal Financial Group Inc. raised its stake in shares of AvalonBay Communities by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after acquiring an additional 138,649 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of AvalonBay Communities by 3.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,754 shares of the real estate investment trust’s stock valued at $2,632,000 after acquiring an additional 479 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of AvalonBay Communities in the 3rd quarter valued at $336,000. 96.85% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities, Inc. (NYSE:AVB) traded up $0.43 on Monday, hitting $187.59. 49,104 shares of the stock traded hands, compared to its average volume of 686,482. The company has a market cap of $25,844.53, a P/E ratio of 22.05, a P/E/G ratio of 2.94 and a beta of 0.36. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52. 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 released 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). The company had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. AvalonBay Communities’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 EPS. sell-side analysts expect that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, December 28th. AvalonBay Communities’s payout ratio is currently 88.75%.

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A number of brokerages have recently commented on AVB. Royal Bank Of Canada reissued a “buy” rating and issued a $203.00 target price on shares of AvalonBay Communities in a research note on Sunday, July 16th. BidaskClub raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. UBS AG raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $206.00 in a research note on Thursday. Finally, Evercore ISI raised shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price on the stock in a research note on Monday, September 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $199.27.

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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