FIL Ltd reduced its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,411 shares of the real estate investment trust’s stock after selling 11,097 shares during the quarter. FIL Ltd’s holdings in AvalonBay Communities were worth $16,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVB. Norges Bank bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $225,932,000. Principal Financial Group Inc. grew its stake 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 valued at $844,837,000 after buying an additional 445,179 shares during the last quarter. BlackRock Inc. grew its stake in shares of AvalonBay Communities by 2.5% during the fourth quarter. BlackRock Inc. now owns 15,700,948 shares of the real estate investment trust’s stock valued at $2,732,748,000 after buying an additional 385,430 shares during the last quarter. Deutsche Bank AG grew its stake in shares of AvalonBay Communities by 119.8% during the fourth quarter. Deutsche Bank AG now owns 589,395 shares of the real estate investment trust’s stock valued at $102,575,000 after buying an additional 321,291 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of AvalonBay Communities by 50.3% during the fourth quarter. California Public Employees Retirement System now owns 705,114 shares of the real estate investment trust’s stock valued at $122,725,000 after buying an additional 236,078 shares during the last quarter. 91.88% of the stock is currently owned by institutional investors.

AvalonBay Communities stock opened at $209.34 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.67. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 4.00 and a beta of 0.54. AvalonBay Communities Inc has a twelve month low of $165.50 and a twelve month high of $210.93.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.02. The company had revenue of $459.80 million during the quarter, compared to analyst estimates of $575.92 million. AvalonBay Communities had a return on equity of 9.52% and a net margin of 45.94%. AvalonBay Communities’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. Analysts anticipate that AvalonBay Communities Inc will post 9.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $6.08 dividend on an annualized basis and a yield of 2.90%. AvalonBay Communities’s dividend payout ratio is currently 67.56%.

A number of research analysts have recently commented on the company. Barclays upped their target price on AvalonBay Communities from $203.00 to $211.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Argus reaffirmed a “buy” rating and set a $215.00 target price on shares of AvalonBay Communities in a research note on Tuesday, April 30th. Robert W. Baird raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their target price for the company from $198.00 to $215.00 in a research note on Thursday, May 16th. KeyCorp upped their target price on AvalonBay Communities from $199.00 to $207.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Mizuho cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $202.67.

In other AvalonBay Communities news, EVP Edward M. Schulman sold 1,500 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $206.93, for a total transaction of $310,395.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Keri A. Shea sold 1,131 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $200.09, for a total value of $226,301.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,973 shares of company stock valued at $2,204,157. 0.42% of the stock is owned by company insiders.

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AvalonBay Communities Profile

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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