Boston Financial Mangement LLC Sells 365 Shares of AvalonBay Communities Inc (AVB)
Boston Financial Mangement LLC trimmed its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,524 shares of the real estate investment trust’s stock after selling 365 shares during the period. Boston Financial Mangement LLC’s holdings in AvalonBay Communities were worth $986,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Candriam Luxembourg S.C.A. grew its holdings in AvalonBay Communities by 6.6% during the third 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 period. Magnetar Financial LLC acquired a new position in AvalonBay Communities during the third quarter valued at approximately $772,000. Cubist Systematic Strategies LLC grew its holdings in AvalonBay Communities by 91.2% during the third quarter. Cubist Systematic Strategies LLC now owns 2,250 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 1,073 shares during the period. PGGM Investments grew its holdings in AvalonBay Communities by 5.6% during the third quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after purchasing an additional 86,594 shares during the period. Finally, Koch Industries Inc. acquired a new position in AvalonBay Communities during the second quarter valued at approximately $365,000. 95.24% of the stock is owned by institutional investors and hedge funds.
In related news, COO Sean J. Breslin sold 1,500 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $181.89, for a total transaction of $363,780.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,628,669 in the last 90 days. 0.46% of the stock is currently owned by corporate insiders.
AvalonBay Communities Inc (NYSE:AVB) opened at $158.28 on Thursday. The firm has a market cap of $21,860.00, a P/E ratio of 24.93, a PEG ratio of 2.39 and a beta of 0.34. AvalonBay Communities Inc has a 1-year low of $156.01 and a 1-year high of $199.52. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.71.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The company had revenue of $555.29 million during the quarter, compared to analysts’ expectations of $554.20 million. During the same quarter in the prior year, the company earned $2.12 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. sell-side analysts expect that AvalonBay Communities Inc will post 9.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $5.88 annualized dividend and a yield of 3.71%. AvalonBay Communities’s dividend payout ratio is presently 89.45%.
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AvalonBay Communities Profile
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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