Meadow Creek Investment Management LLC lifted its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,672 shares of the real estate investment trust’s stock after acquiring an additional 3,276 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in AvalonBay Communities were worth $5,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in AvalonBay Communities by 2.0% during the 1st quarter. BlackRock Inc. now owns 16,019,099 shares of the real estate investment trust’s stock worth $3,215,513,000 after purchasing an additional 318,151 shares during the period. Principal Financial Group Inc. grew its position in shares of AvalonBay Communities by 11.8% during the first quarter. Principal Financial Group Inc. now owns 4,208,825 shares of the real estate investment trust’s stock worth $844,837,000 after buying an additional 445,179 shares in the last quarter. FMR LLC increased its stake in shares of AvalonBay Communities by 1.3% during the first quarter. FMR LLC now owns 3,762,824 shares of the real estate investment trust’s stock worth $755,312,000 after buying an additional 47,236 shares during the period. Northern Trust Corp increased its stake in shares of AvalonBay Communities by 3.0% during the second quarter. Northern Trust Corp now owns 2,589,402 shares of the real estate investment trust’s stock worth $526,115,000 after buying an additional 76,361 shares during the period. Finally, Geode Capital Management LLC raised its holdings in AvalonBay Communities by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 2,297,292 shares of the real estate investment trust’s stock valued at $399,297,000 after acquiring an additional 191,867 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of AvalonBay Communities stock traded down $1.42 during trading hours on Wednesday, hitting $208.83. The company had a trading volume of 367,818 shares, compared to its average volume of 530,546. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50-day moving average is $208.39 and its two-hundred day moving average is $203.83. The company has a market cap of $29.12 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 3.94 and a beta of 0.52. AvalonBay Communities Inc has a twelve month low of $167.01 and a twelve month high of $216.80.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.31 by ($1.10). AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. The company had revenue of $577.26 million for the quarter, compared to analyst estimates of $572.69 million. During the same quarter in the prior year, the business earned $2.23 earnings per share. Sell-side analysts expect that AvalonBay Communities Inc will post 9.32 EPS for the current year.

In related news, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $214.00, for a total transaction of $428,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William M. Mclaughlin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $215.11, for a total value of $537,775.00. The disclosure for this sale can be found here. Insiders have sold 5,801 shares of company stock worth $1,243,499 in the last quarter. Insiders own 0.42% of the company’s stock.

A number of research analysts recently issued reports on AVB shares. SunTrust Banks lifted their price target on shares of AvalonBay Communities from $211.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. They noted that the move was a valuation call. BTIG Research increased their price objective on shares of AvalonBay Communities to $235.00 and gave the company a “positive” rating in a research report on Thursday, August 15th. Barclays reduced their price objective on shares of AvalonBay Communities from $228.00 to $226.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Robert W. Baird raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $198.00 to $215.00 in a research report on Thursday, May 16th. Finally, Wells Fargo & Co boosted their target price on shares of AvalonBay Communities from $218.00 to $224.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $212.87.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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