E&G Advisors LP Takes $410,000 Position in AvalonBay Communities, Inc. (AVB)
E&G Advisors LP acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,300 shares of the real estate investment trust’s stock, valued at approximately $410,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $132,000. WFG Advisors LP increased its holdings in shares of AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of AvalonBay Communities during the second quarter valued at approximately $226,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $227,000. Finally, Lincoln National Corp bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $239,000. Hedge funds and other institutional investors own 94.86% of the company’s stock.
AvalonBay Communities, Inc. (AVB) opened at $169.03 on Wednesday. The stock has a market capitalization of $23,230.53, a P/E ratio of 26.41, a P/E/G ratio of 2.49 and a beta of 0.35. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities, Inc. has a 1 year low of $167.51 and a 1 year high of $199.52.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million for the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.11 EPS. research analysts forecast that AvalonBay Communities, Inc. will post 8.62 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.36%. AvalonBay Communities’s payout ratio is 88.75%.
In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leo S. Horey III sold 2,000 shares of the business’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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by insiders.
AVB has been the subject of several recent research reports. Robert W. Baird restated a “buy” rating and set a $187.00 price objective on shares of AvalonBay Communities in a report on Tuesday, January 9th. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Stifel Nicolaus restated a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a report on Wednesday, October 4th. Mizuho restated a “buy” rating and set a $220.00 price objective on shares of AvalonBay Communities in a report on Monday, November 6th. Finally, Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of “Hold” and an average target price of $200.40.
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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